By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance on Thursday, backed by the purchases of blue chips especially in the banks sector.
The main index rose 0.30% or 13.4 points to reach 4,495.28 points.
The market was backed by the recovery of oil prices, in addition to selective purchases of blue chips in line with the approach of the merger between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD), capital market analyst Hamoud Al Shammari told Mubasher.
The energy sector added 2.31% as Dana Gas and TAQA increased 2.33% and 2.27%, respectively.
The banks sector gained 0.50% after RAK Bank, FGB, and NBAD went up 3.68%, 0.78%, and 0.48%, respectively.
The industrial sector led losers with a 2.57% decline as Union Cement Company (UCC) sank 6.9%.
Turnover reached AED 120.5 million after trading 35.84 million shares.
The main index may fall to 4,380-4,320 points if it breaks below 4,400 points, Al Shammari added.
Translated by: Julian Nabil
