By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index surged 38.19 points, or 0.78%, to close at 4929.98 points on Wednesday, its highest level in seven successive sessions, buoyed by the banks, communications, and energy sectors.
The ADX’s trading volume reached 21.5 million shares, while the market’s turnover rose to AED 94.45 million.
Market capitalisation reached AED 3.851 billion ($1.05 billion), while the ADX’s market value increased to AED 489.582 billion ($133.270 billion).
The banks sector rose 1.01% after the stocks of First Abu Dhabi Bank (FAB) and Dhabi Commercial Bank (BCB) advanced by 1.26 and 1.02%, respectively.
The telecommunications sector and its only stock Etisalat rose 0.62% each.
The energy sector inched up 0.31%, boosted by the 1.26% hike of Abu Dhabi National Oil Company’s (ADNOC) stock.
On the other hand, the real estate sector slipped 0.08%, weighed down by Eshraq Properties’ stock that dropped 1.46%.
The consumer staples sector fell by 0.47% after Agthia's stock slipped 0.45%, and International Fish Farming Holding's (Asmak) stock dipped 0.83%.
Raed Diab, vice president of Investment Research at KAMCO told Mubasher that the ADX’s performance remains stable despite the previous sessions’ fluctuation.
FAB topped the ADX’s liquidity with AED 4.206 million, while Aldar Properties generated the highest trading volume with 4.022 million shares.
Translated By: Dunya Hassanein
