By: Bedour Alraei
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance on Wednesday for the second successive session, backed by the growth of telecom and real estate sectors.
The general index reached 4,308.77 points after adding 1.12% or 47.54 points, its highest gains in ten sessions.
Trading volume stood at 110.77 million shares on Wednesday, compared to 106.46 million shares on Tuesday. Turnover stood at AED 319.43 million, compared to AED 157.065 million.
The market’s liquidity rose due to purchases of blue chips amid anticipation of OPEC meeting’s results, in addition to positive expectations of cutting oil production, according to Eyad Al Bariqi, Trading Director of Al Ansari Financial Services.
Many investors are holding their positions in specific stocks like Eshraq Properties, the director added.
The markets are likely to see gains in the first week of December if the OPEC members agreed to curb oil ouput, Al Bariqi noted.
The telecom sector gained 5.97% as Etisalat went up 5.97%.
Etisalat’s stock was the value leader after generating AED 97.78 million from the exchange of 5.308 million shares. In addition, Eshraq Properties was the most active stock after trading 44.15 million shares.
The real estate sector levelled up 0.64% as Aldar Properties increased 0.81%.
On the other hand, the banks sector fell 0.9% as First Gulf Bank (FGB) slid 2.11%.
Translated by: Julian Nabil
