By Bedour El-Raie
Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange (ADX) continued its weekly losses to the second successive week, weighed by real estate, banks and energy. Meanwhile, telecoms sector trimmed the market's losses.
The main index lost 4.35% or 179.87 points during the week to end at 3,955.10 points.
Trading activity gained momentum across the board, as traded value rose by 41.7% to AED 809 million ($220.200 million), from AED 571 million ($155.42 million) a week earlier. Traded volume also increased to 335.882 million shares from 311.61 million shares.
The real estate sector was the biggest loser (-8.05%) due to the decline in Aldar Properties by 8.3%.
The banks sector was off 6.82% after ADIB, FGB and NBAD fell by 12.3%, 6.81% and 5.32% respectively.
The energy sector shed 1.98% after Dana Gas lost 4% following the announcement of layoffs. Meanwhile, Taqa stock rose by 7%.
The telecom sector rose 0.93% backed by Etisalat.
The current political tensions in the region, coupled with the fall in oil prices, fueled fluctuation in markets, s id Tarek Kakish, head of asset management at Al Mal Capital.
Translated by Sayed Abdel Rahman
