By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index dropped 0.35% or 15.45 points to close at 4,435.21 points on Monday.
The UAE’s market’s indices, especially the ADX’s, will continue fluctuating before dropping in the coming sessions, technical analyst Ibrahim Al Felkawy told Mubasher.
The ADX’s turnover reached AED 133 million through 1,269 transactions, after 70.7 million shares were traded, compared to AED 70.8 million on Sunday, with a trading volume of 58.7 million shares.
The general index was weighed down by leading sectors, topped by real estate, which lost 1.9% after Aldar Properties, Manazel Real Estate, and Eshraq Properties tumbled 2.17%, 1.89%, and 1.32%, respectively.
The telecommunication sector and its only stock Etisalat sank 0.56% each.
The banks sector fell 0.1% after RAK Bank shed 3.03%, while Abu Dhabi Commercial Bank (ADCB) and Abu Dhabi Islamic Bank (ADIB) went down 1.37% and 0.53%, respectively.
The indices will be affected this week by investors’ morale rather than technical aspects, Al Felkawy commented, noting that the current geopolitical situation in the Middle East has been clearly reflected across GCC bourses
Translated by: Muhammad Abdulwakeel
