By: Mahmoud Gamal
Dubai – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a negative performance on Monday, spurred by profit-taking on blue chips.
The general index declined 0.27% or 12.50 points to reach 4,533.87 points.
The energy sector topped losers after falling 4.5% as TAQA and Dana Gas sank 7.55% and 3.7% respectively.
The investment sector went down 3.4% as Waha Capital sank 3.6%. The real estate sector slid 1.17% after Eshraq Properties and Aldar Properties decreased 1.9% and 1.14% respectively.
The banks sector levelled down 0.30% as Union National Bank (UNB) and First Gulf Bank (FGB) tumbled 5.3% and 0.4% respectively.
Some portfolio investors tended to decrease their positions in blue chips especially in the banks and real estate sectors, financial analyst Gamal Assaad said.
Investors are anticipating the trend of oil prices in Tuesday's trading session, in addition to annual financial announcements, Assaad noted.
Trading volume reached 157.05 million shares on Monday, compared to 156.23 million shares last Thursday. Turnover stood at AED 147.23 million, compared to AED 483.33 million.
ADX is expected to decline in the coming session, Assaad said, adding that traders should not increase their positions until the main index breaks above 4,550 points.
Translated by: Julian Nabil
