By: Bedour El Raie
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) recorded AED 17.74 billion ($4.83 billion) in gains in January, after the general index surged 4.63% or 203.79 points to close at 4,602.23 points.
Turnover amounted to AED 3.48 billion, up from AED 2.45 billion in December, while traded volume grew to 1.85 billion shares traded against 1.399 billion.
The banks sector recorded the biggest rise across the month, adding 6.99% after First Abu Dhabi Bank (FAB) surged 9.27%, followed by Abu Dhabi Commercial Bank (ADCB) and Abu Dhabi Islamic Bank (ADIB), which gained 6.62% and 5.82%, respectively.
Commenting on the ADX’s performance in January, Jamal Ajaj, general manager of Al Sharhan Stock Centre noted that the market was positively affected by the banking sector’s financial results, which bolstered the sector’s stocks.
The real estate sector also grew 4.62%, after Eshraq Properties and Aldar Properties increased gained 5.63% and 4.09%, respectively, while RAK Properties jumped 8.45%, ranking the biggest riser in the sector.
The investment sector and its stock Waha Capital surged 9.18% each during January.
On the flipside, the energy sector ended the month in the red, falling 3.69% after Dana Gas retreated 7.41%, while TAQA and ADNOC Distribution were down 1.82% and 1.51%, respectively.
The consumer staples sector was the biggest loser, sliding 5.35% after Agthia Group tumbled 9% during the month.
Translated by: Nada Adel Sobhi
