Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) reversed the positive performance it had maintained for two successive sessions on Monday, dragged down by the fall of the telecom and banks sectors.
The general index retreated 0.24% or 10.96 points to reach 4,566.15 points.
The banks sector led losers with a 0.39% decline after RAK Bank and First Abu Dhabi Bank declined 8.86% and 0.47%, respectively.
The telecom sector retreated 0.27% as Etisalat levelled down 0.27%.
On the other hand, the energy sector went up 0.69% as TAQA rose 4.08%.
The real estate sector added 0.11% after RAK Properties gained 1.49%.
First Abu Dhabi Bank was the value leader after generating AED 38.51 million from the exchange of 3.60 million shares.
Trading volume reached 64.72 million shares on Monday, compared to 39.22 million shares on Sunday. Turnover amounted to AED 39.22 million, compared to AED 69.44 million.
The ADX was pressured by the telecom sector due to a decline of Etisalat from AED 18.8 to AED 18.6, technical analyst Gamal Abdel Hamid said, adding that the main index fell to 3,551 points as a result.
However, the telecom, real estate, and investment sectors are expected to push the market higher in the coming period, Abdel Hamid noted.
