By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed the week ended on 17 January in positive territory, supported by the growth of the banks sector.
The general index increased by 22.92 points, or 0.46%, closing the week at 4,985.29 points.
By the end of this week, the ADX’s trading volume reached 116.18 million shares exchanged with a turnover of AED 602.94 million.
The UAE markets need more market-boosting catalysts and liquidity to enhance the performance and attract more investors, Eyad Al Bariqi, director general of Al Ansari Financial Services, told Mubasher.
The twin UAE bourses also have further investment opportunities because of the attractive priceing levels of equities, Al Bariqi said.
Market capitalisation stood at AED 500.9 billion over the course of the previous week.
The banks sector topped gainers adding 1.23% on the back of the heavyweight First Abu Dhabi Bank’s (FAB) 1.53% jump.
On the negative side, the consumer staples sector headed decliners with 3.57% as Agthia dropped 3.75%, while the real estate sector retreated 1.01% as Eshraq Properties and Aldar Properties plunged 3.46% and 0.65%, respectively.
The energy sector levelled down 2.02% due to Dana Gas’s 1.05% drop.
Translated by: Kholoud Mohamed Hussein
