Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange (ADX) moved higher on Wednesday, thus extending a bull run to the sixth successive day.
The main index rose by as much as 0.77% or 32.58 points to close at 4,241.73 points.
The market was buoyed by banking stocks that offset the selling activity among real estate, telecoms and energy shares.
The UAE stock markets will close on Thursday, 24 December, on celebrating Prophet Mohammed’s Birthday.
Analysts told Mubasher earlier today that UAE stock markets may see ‘normal and justified’ profit taking today especially on stocks that rallied recently.
Trading activity was down across the board, as traded volume fell to 86.74 million shares from 147.5 million shares and traded volume decreased by 26.76% to AED 118 million ($32.12 million) from AED 161.12 million ($43.86 million).
The banks sector was the top gainer, with 1.77% growth, backed by FGB and ADIB that rose by 3.67% and 0.53% respectively.
On the flipside, the real estate sector sagged by 1.57% after Aldar pulled back by 1.71%. The telecoms sector also went down by 0.31% due to Etisalat decline.
The energy sector tailed the list, with a decline of 0.09%, after Taqa stock plunged by 8.33%. Meanwhile, Dana Gas rose by 2.08% to trim the sector’s losses.
