Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) gained most in ten weeks on Thursday, reaching the highest level in 10 sessions, backed by the growth of the energy and banks sectors.
The general index advanced 1.51% or 63.21 points to reach 4,260.06 points.
Trading volume jumped 110.6% to AED 376.566 million ($102.5 million) on Thursday from AED 178.84 million ($48.7 million) on Wednesday. Turnover surged 121% to 94 million shares from 42.36 million shares.
The energy sector rose 2.54% as TAQA and Dana Gas grew 2.7% and 2.5%, respectively.
The banks sector levelled up 1.96% after Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and First Gulf Bank advanced 3.25%, 1.73% and 1.24% in a row.
Etisalat was the value leader after generating AED 169.05 million, representing 45% of the total liquidity.
The real estate sector went up 0.65% as Eshraq Properties and Aldar Properties advanced 1.96% and 0.43%, respectively.
The consumer staples sector added 2.79% after National Marine Dredging Co. increased 13.68%.
On the flipside, the insurance sector was the only loser after falling 0.31%.
Think for Financial Studies CEO Fady Al-Ghattis said that markets are expected to witness some movements to rearrange portfolios through changing positions in the coming period, explaining the pressures on banks sector’s stocks
The markets are likely to hold on Thursday, Al-Ghattis earlier told Mubasher.
