By: Bedour Alraei
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bullish performance on Thursday amid lower trading volume, backed by the rise of the real estate and banks sectors.
The benchmark index advanced 0.15% or 6.67 points to reach 4,519.83 points.
Trading volume reached 43.187 million shares on Monday, compared to 70.56 million shares on Tuesday. Turnover stood at AED 99.51 million, compared to AED 190.105 million.
The real estate sector advanced 1.46%, spurred by Aldar Properties and Eshraq Properties which advanced 1.69% and 1.30% respectively. Similarly, the energy sector grew 1.06% as Dana Gas levelled up 1.82%.
The banks sector levelled up 0.18% after National Bank of Abu Dhabi (NBAD), First Gulf Bank (FGB) climbed 1.07% and 0.42% respectively.
The UAE markets’ fluctuation will continue amid the weak trading until new stimuli/catalysts appear to boost the market, Wadah Al-Taha, a member of the National Advisory Board of Chartered Institute for Securities &Investments (CISI).
The negative atmosphere that was present in today's trading, and which came opposite to analysts' expectations, has prompted stronger selling towards the second half of the session, which deepened the market's losses.
Translated by: Julian Nabil
