By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) has gained AED 7.588 billion in market capitalisation during the third quarter of 2019 on the back of the rising real estate stocks.
The ADX’s general index rose by 77.368 points, or 1.6%, in Q3-19 to 5,057.318 points, versus closing at 4,979.950 points in Q2-19.
Trading volume amounted to around 3.9 billion shares during the three-month period ended 30 September 2019, versus 4.5 billion shares in Q2-19 and 3.1 billion shares in Q1-19.
The bourse has marked the lowest liquidity ratio since the beginning of the year during Q3-19 at AED 11.3 billion, falling from AED 15.4 billion in the previous quarter and AED 11.9 billion in the first quarter of the year.
At the level of sectors performance, the real estate stocks led the winners after jumping by 10.2% during the July-September period of 2019.
The investment sector rose by 5.7%, the banks sector added 0.8%, and the energy sector levelled up 0.4%, while the telecommunication sector fell by 1.1%.
In Q3-19, most of the blue-chip stocks rose, including Aldar Properties and Abu Dhabi Islamic Bank (ADIB) that jumped 10.5% and 10.4%, respectively.
On the Other hand, Abu Dhabi Commercial Bank (ADCB) and Etisalat dropped by 6.1% and 1.2% each.
By the end of the quarter, market capitalisation increased by 1.5% to AED 518.691 billion as compared to Q2-19.
September
In September, the ADX’s general index slid by 2.1% to its current level and lost 108.252 points.
Market capitalisation shed nearly AED 9.787 billion in September, closing the month at AED 518.691 billion, compared to AED 528.478 billion at the end of August.
The exchange has been seeing a downward trend this month amid the escalating geopolitical risks in the region such as the recent drone attacks on two Saudi Aramco oil facilities at Abqaiq and Khurais in Saudi Arabia.
The bourse’s trading volume during the month reached 1.2 billion shares, versus 1.1 billion shares in August.
The ADX has recorded AED 3.8 billion in turnover in September, compared to AED 3.5 billion last month.
Translated by: Mai Ezz El-Din
