Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) managed to close higher on Wednesday, backed by stronger banks and telecom sectors as well as heavier trading volume.
The general index closed at 4,065.14 points, adding 50.22 points or 1.25%, the highest rate in nine sessions.
Trading volume reached 157.45 million shares on Wednesday, compared to 69 million shares on Tuesday. Turnover stood at AED 198.76 million, compared to AED 145.12 million.
The banks sector led gainers after adding 1.9%, spurred by Abu Dhabi Commercial Bank, First Gulf Bank and Abu Dhabi Islamic Bank which advanced 4.45%, 2.63% and 1.65%, respectively.
The telecom sector levelled up 0.64% after Etisalat grew by the same percentage.
The telecom sector was the value leader after generating AED 37 million, affected by news that a telecom operator is talking to banks about raising a $2 billion loan for three years.
On the flipside, the energy and real estate sectors declined 0.47%, weighed by TAQA which slid 2.33%.
The real estate sector fell 0.18% after Aldar Properties decreased 1.34%. However, the sector was the best performer with turnover reaching AED 69 million, pushed up by Eshraq Properties which generated AED 31 million.
