By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index grew 84.12 points, or 1.83%, to 4,669.52 points during the fourth month of 2018, pushed up by the banks and energy sectors.
Market capitalisation reached AED 475.11 billion in April versus AED 469.8 billion a month earlier.
The energy sector soared 11.32% after TAQA ballooned 70% and Dana Gas surged 7.61%.
Meanwhile, the telecommunication sector and its only stock, Etisalat, shed 2.83% each.
The investment sector plunged 16.15% after Waha Capital dropped 17.43%, while the real estate sector declined 1.54%, as Aldar Properties and Eshraq Properties sank 1.41% and 1.39%, respectively.
Over the month and since the beginning of the year, the banks sector boosted the ADX, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The listing of Saudi Arabia on FTSE Russell index has attracted more capital to the kingdom, which had a negative impact on the UAE markets and other GCC markets in general, Diab added.
The ADX’s trading volume rose to 1.617 billion shares from 1.520 billion in March, while the market’s liquidity dropped to AED 2.99 billion, compared to AED 3.07 billion in the previous month.
Translated by: Muhammad Khalid
