Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) finished Wednesday on a higher note after the main index registered the highest performance in two months.
The main index rose 77.91 points or 1.8% to 4,433.74 points.
Trading value decreased to AED 195.034 million from AED 241.402 million yesterday, while volumes stood at 74.77 million shares compared with 139.016 million yesterday.
The banking sector advanced 3.36% as First Gulf Bank and NBA increased by 5.42% and 2.81%, respectively.
The two banks are holding their general meetings today for discussing the merger agreement, which is likely to create the biggest banking entity in the Middle East with assets worth AED 660.9 billion ($179.9 billion), according to Bloomberg.
The real estate sector ended 1.60% higher on Al Dar National Real Estate (+2.31%).
On the flipside, the energy and telecom sectors lowered by 1.03% and 0.3%, respectively.
Market analyst Mohamed Al-Azmi expected this green wave to continue over the coming sessions amid a stream of updates on oil output cuts and reports over US firms’ intention to expand offshores.
