By: Mahmoud Gamal
Abu Dhabi-Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bearish performance on Tuesday, shrugging off early gains amid the decline of most leading sectors.
The general index fell 0.49% or 22.43 points to reach 4,591.73 points.
The market was pressured down by the decrease of positions in heavyweight stocks, as well as oil price decline below $45, according to capital market analyst Amer Al Mohair.
Closure of the index above its important resistance at 4,600 points confirms that it exhibits a sideways-to-bearish trend, Al Mohair noted.
The banks sector led losers after declining 0.9% as First Gulf Bank (FGB) slipped 2.4%.
The energy sector went down 0.38% after TAQA retreated 1.9%.
The telecom sector tumbled 0.25% due to a decrease in Etisalat by 0.25%.
On the other hand, the real estate sector topped gainers after adding 0.8% as Aldar advanced 1.05%.
Turnover stood at AED 118.13 million on Tuesday, compared to AED 117.29 million on Monday. Trading volume reached 41.9 million shares, compared to 53 million shares.
By: Julian Nabil
