By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index surged 3.41%, or 150 points, to 4,398.44 points at the end of a three-session week, while the market capitalisation soared AED 13 billion.
The ADX's market capitalisation reached AED 470.434 billion from AED 457.345 billion a week earlier.
The positive wave in the domestic market is attributable to the recent reports regarding the strength of the UAE’s markets, Mena Corp’s financial analyst Issam Kassabieh told Mubasher.
The banks sector increased by 5.06% after First Abu Dhabi Bank (FAB) gained 6.34% and Abu Dhabi Commercial Bank (ADCB) went up 7.35%.
The real estate sector levelled up 3.29% after Aldar Properties and Eshraq Properties rose 2.27% and 7.04%, respectively.
The telecommunication sector and its only stock Etisalat grew 1.71% each.
On the other hand, the energy sector tumbled 2.23%, as Dana Gas dropped 3.7% and ADNOC Distribution shed 1.13%.
The growth in the results of the bourse’s major companies, along with the attractive prices of the stocks helped the ADX to level up, the analyst concluded.
Translated by: Muhammad Khalid
