Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) saw an upward trend on Wednesday, backed by First Gulf Bank (FGB), Etisalat and National Bank of Abu Dhabi (NBAD).
The general index gained 1.05% or 42.47 points to reach 4,104.53 points.
Trading volume reached 294.5 million shares on Wednesday, compared to 303 million shares on Tuesday. Turnover amounted to AED 303.88 million ($83 million), compared to AED 271.63 million ($73.9 million).
The banks sector added 1.71% after FGB and NBAD levelled up 2.65% and 2.27%, respectively.
The telecom sector increased 0.94%, backed by Etisalat which recovered 0.94%.
On the flipside, the real estate sector fell 0.55% due to a 14.29% decline in Aldar Properties. Meanwhile, Eshraq Properties and RAK Properties rose 3.23% and 14.29% in a row.
Aldar was the value leader after generating AED 51.44 million, while Dana Gas was the most active company after trading volume reached 88.74 million shares.
ADX entered the correction phase on the short term, weighed by internal pressures including speculations and foggy outlook on the index’s trend, in addition to volatile oil prices and global markets, said Fady Al-Ghattis, CEO of Think Financial Services.
