By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index grew 0.88%, or 39.31 points, to 4,481.3 points on Wednesday, pushed up by the real estate and banks sectors.
The market’s performance is still good, and the general indices are gradually improving, but the trading volume fell short of the expectations, said Al-Sharhan Centre’s general manager, Gamal Agag.
The ADX’s trading volume dropped to 56.08 million shares from 97.8 million shares on Tuesday, while the market’s liquidity surged to AED 152.677 million through 986 transactions, compared to AED 92.345 million in the previous session.
The decline in the market’s trading volume could be attributed to the cautious trading and selling pressure to reap yields of some blue chips, such as Emaar Properties and First Abu Dhabi Bank (FAB), which rose in the previous sessions, Agag explained.
The real estate sector topped the market’s gainers, rising 1.48%, after Eshraq Properties and Aldar Properties went up 2.78% and 1.33%, respectively.
The banks sector also levelled up 1.31%, as FAB and Abu Dhabi Commercial Bank (ADCB) grew 1.91% and 1.72, respectively.
The telecommunications sector and its only stock Etisalat rose 0.29% each.
Meanwhile, the energy sector tumbled 0.55% after Dana Gas shed 1.27%.
FAB was the most actively-traded share in terms of liquidity, with a turnover of AED 30.04 million, while Manazel Real Estate topped the market in terms of trading volume, with 14.11 million traded shares.
Translated by: Muhammad Khalid
