By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) opened Wednesday in red, as the main index fell by about 1.9% to 3,814.82 points.
The ADX’s volatile performance is expected to continue, according to technical analyst Hamoud Al-Azmi.
“The market tends to decline to 3,800 points, pressured by lack of catalysts and falling oil prices,” Al-Azmi told Mubasher.
Trading volume reached 52.49 million shares exchanged at AED 42.83 million through 567 trades.
The banks sector topped losers as the first Gulf Bank dropped 3.6%. The real estate was down 4.08% due to a 3.9% decrease in Aldar, which was the most active in terms of value and volume after 12.54 million shares worth AED 6.47 million through 146 trades.
The telecom sector also plummeted 1.7%, as Etisalat slipped by the same percentage.
The bourse’s benchmark index closed yesterday in green, backed by leading shares.
Translated by: Elwy el-Manzalawy
