By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance on Tuesday, spurred by the rise of First Abu Dhabi Bank (FAB).
The general index grew 0.71% or 31.66 points to reach 4,470.12 points.
The market rose to reverse the losing streak it maintained for five successive session, backed by blue chips in the banks sector, according to Raed Diab, vice president at KAMCO Investment Co.
The main index was backed the rise of banks stocks led by First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), and Abu Dhabi Islamic Bank (ADIB) which went up 1.9%, 1.4%, and 0.3%, respectively.
Trading volume reached 144.29 million shares on Tuesday, compared to 99.06 million shares on Monday. Turnover amounted to AED 236.08 million, compared to AED 159.86 million.
If the main index breaks above 4,475 points, it will move higher to 4,510 points, above which the Diab added. And if the index fell below 4,400 points, it will approach 4,350 points, Diab said.
Translated by: Julian Nabil
