By: Mahmoud Gamal
Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) held on to its gains on Tuesday for the fourth session in a row.
The main index advanced 0.39% or 17.2 points to reach 4,408.15 points.
The market was backed by investors who were strengthening their positions in banking stocks and some mid-caps, in addition to higher oil prices, capital market analyst Nawaf Al-Ajmi said.
The banks sector was the best performer after rising 1.03% due to a rise in Union National Bank (UNB), National Bank of Abu Dhabi (NBAD) and First Gulf Bank.
The energy sector gained 0.4% as TAQA levelled up 1.9%.
On the flipside, the real estate sector fell 2.03% as Aldar Properties declined 2.14%.
Trading volume reached 208.4 million shares on Monday, compared to 253.5 million shares on Sunday.
Lower turnover and trading volume reflect the quiet period of the pre-reporting season, in which investors are poised to build stronger positions in Abu Dhabi-listed stocks, Al-Ajmi noted.
The main index is expected to continue its sideways-to-bearish trend and break 4,440 points, Al-Ajmi added.
