By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index increased during the first quarter of 2018, pushed up by the energy and banks sectors.
The general index gained 186.96 points, or 4.25%, to close at 4,585.4 points.
Market capitalisation grew around AED 15.2 billion ($4.2 billion) to AED 469.838 billion ($127.9 billion) in Q1-18, compared to AED 457.34 billion ($124.5 billion) at the end of 2017.
The ADX’s trading volume reached 4.45 billion shares generating AED 9 billion through 64,970 transactions.
The energy sector added 12% after TAQA skyrocketed 45.45% and Dana Gas surged 13.58%.
The banks sector added 6.7%, as First Abu Dhabi Bank (FAB) rose 14.15%, while the investment sector jumped 14.54% after Waha Capital grew 16.58%.
On the other hand, the real estate sector shed 2.81%, as Aldar Properties lost 3.18%.
In March
During the month, the DFMGI went down 0.26% to 4,585.4 points with a trading volume of 1.51 billion shares and a turnover of AED 3.06 billion.
UAE market enjoys growth potential, given the major development in real estate sector following the megadeal between Emaar Properties and Aldar Properties, financial analyst at Mena Corp Issam Kassabieh said.
The telecommunication sector and its only stock, Etisalat, added 0.86% each.
Meanwhile, the consumer staples sector lost 5.45%, as Agthia plunged 8.33%.
Translated by: Muhammad Khalid
