By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) ended Tuesday’s trading session in the green zone, spurred by the growth of real estate, banks and telecom sectors.
The main index rose 1.24% or 56.44 points to close at 4,590.31 points.
The market’s gains were mainly backed by expectations of better results to be posted by insurance firms, in addition to possible expansion of operations, capital market analyst Mohamed Al-Azmi said.
The insurance sector gained 3.43% due to an increase in Methaq Takaful Insurance by 1%. The real estate sector also added 2.47% after Aldar Properties went up 2.3%.
The energy sector climbed 1.95% as Dana Gas and TAQA levelled up 1.9% and 2.04% respectively.
The banks sector advanced 1.55% after First Gulf Bank (FGB) grew 1.6%. The telecom sector rose 0.27% as Etisalat increased 0.27%.
On the flipside, the consumer staples sector fell 0.17% as International Fish Farming Holding (Asmak) decreased 2.9%.
ADX’s trend is still unclear amid the decline of liquidity, capital market analyst Salam Saeed added.
Turnover amounted to AED 233.24 million on Tuesday, compared to AED 147.23 million on Monday. Trading volume reached 185.78 million shares, compared to 157.05 million shares.
Translated by: Julian Nabil
