By: Mahmoud Gamal
Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) managed to reverse the downward trend it saw for five successive sessions amid speculations on some selective stocks.
The general index rose 0.2% or 7.6 points to reach 3,794.98 points.
The UAE markets saw positive speculations and selective purchases after leading stocks reached attractive price levels, said Mahmoud Abou Zeid, a financial analyst at Namaa Consulting
Trading volume fell to 85.62 million shares on Monday from 106.58 million shares on Sunday. Likewise, turnover declined to AED 150.76 million ($41.03 million) from AED 188.26 million.
The real estate sector led risers after gaining 3.3% after Aldar Properties levelled up 4.3%.
The banks sector went up 1.17% as First Gulf Bank recovered 3.5%.
The consumer staples sector grew 0.6% due to an increase in Agthia Group by 0.68%.
The industrial sector advanced 0.5% after Arkan Building Materials gained 10.8%.
On the flipside, the energy and telecom sectors retreated 5.12% and 1.6% in a row.
The global markets’ performance will set the UAE equities’ trend this week, said Jamal Ajaj, Director of Al Sharhan Shares Center in Abu Dhabi.
Companies’ financial announcements are likely to have a positive impact on the markets, he added.
Translated by: Julian Nabil
