ADX snaps five-week run of losses

Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX)ended the string of losses, that extended for five weeks.

ADX recorded, by the end of this week, its most weekly gains since more than two-and-half months, drove by the sectors of real estate and telecommunication, while ignoring the declines of energy sector.

The main guage advanced 1.43% or 60 points w-o-w to close at 4,260.06 points.

ADX erased this week's early losses on Tuesday and Thursday's trading sessions.

"The Gulf markets, especially the Emirates stocks, were hurt severely by the recent bloody attacks of Paris, although the European markets recovered quickly following these dramatic incidents," said Wadah EL Taha, technical analyst.

Trading values grew 35.6% to AED 1.33 billion, compared with AED 980.31 billion a week earlier.

The market capitalisation gained nearly AED 7.74 billion through this week, to reach AED 409.05 billion compared with AED 401.31 billion by the end of the previous week.

At the sectorial level, the telecommunication sector topped the gains as it leaped 4.21%, while the real estate sector advanced 3.66%.

MUBASHER Contribution Time: 19-Nov-2015 11:44 (GMT)