By: Bedour Ibrahim
Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) recorded in April its highest monthly rise in five months, with market gains of around AED 7 billion ($1.9 Billion)
Abu Dhabi General Index (ADI) went up by 1.78% or 79.03 points, and closed at the level of 4,522.56 points, after declining by the end of March.
The main index rose on the back of the energy sector, which gained 8.23%, as TAQA and Dana Gas gained 28.26% and 2.38% respectively.
The banks sector index also grew 5.34% as NBAD and ADCB increased by 7.80% and 1.76% respectively.
On the other hand, the telecom sector fell 3.32% as Etisalat declined in the same percentage.
Real estate also decreased by 2.34%, as Aldar fell 4.42%, despite Eshraq rising by 7.48%.
The market capital added AED 7.12 billion to a total of AED 467.026 billion.
Eyad Al Bariqi, the director of Al Ansari Financial Services told Mubasher that the markets saw some sort of a slump with liquidity scarcity.
This comes due to the investors being overly cautions, he noted that in the last week we saw some marginal gains after the announcement of financial results.
The expert expects higher levels of liquidity in May on the back of foreign investors and portfolios, which in turn will positively affect the investors’ motivation, and consequently raising the levels of turnover in the upcoming period.
