By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a negative performance on Tuesday, backed by profit-taking on energy stocks.
The general index decreased 0.2% or 9.14 points to reach 4,539.91 points.
The market's losses were trimmed by the rise of the energy sector by 1.03% as Dana Gas increased 1.8%. The services sector also gained 1.9% after Abu Dhabi National Hotels increased 7.02%.
The market’s decline following several rises in the past five sessions is normal amid the fall of oil prices on Tuesday, Raed Diab, vice president of Investment Research Department in KAMCO, told Mubasher.
The bourse is expected to see a volatile performance in the coming sessions, Diab added.
The telecom sector led losers after falling 0.53% as Etisalat tumbled 0.53%. The real estate sector retreated 0.26% after Aldar Properties sank 0.36%.
Turnover stood at AED 186.45 million on Tuesday, compared to AED 325.85 million on Monday. Trading volume reached 183.43 million shares, compared to 199.983 million shares.
The main index sees resistance at 4,640 points, Diab said, adding the index will target 5,000 points if the market closes above 4,640 points.
Translated by: Julian Nabil
