By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index grew 0.9%, or 42.68 points, to 4,591.11 points during the week ended 11 January.
The market capitalisation increased by AED 3.8 billion ($1.03 billion) to AED 474.3 billion, compared to AED 470.434 billion in the previous week.
The UAE's two bourses saw positive trading since the beginning of the year, while investors were focusing on stock collection, Eyad Al Bariqi, director general of Al Ansari Financial Services, told Mubasher.
The increase of the market’s liquidity and the approaching financial disclosures are the main reason of any optimism about the market’s performance, Al Bariqi added.
The banks sector levelled up 1.05% after First Abu Dhabi Bank (FAB) rose 1.4% to AED 11.05.
The telecommunication sector and its only stock Etisalat went up 0.8% each, while the real estate sector gained 0.73%, as RAK Properties surged 6.5%.
Translated by: Muhammad Khalid
