Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange rose this week, backed by real estate, banks and telecoms, adding around AED 11 billion to its capitalisation.
The main index, or ADI, rose by 3.46% or 141.08 points this week to end at 4,212.88 points.
The UAE equity markets showed a bullish trend amid upbeat global forecasts and the recent rebound in crude prices, said Jamal Ajaaj, analyst.
Brent crude jumped on Wednesday by more than 7% after Iran backed a deal led by Russia and Saudi Arabia to freeze oil output at January levels.
The analyst also noted that traders' sentiment was buoyed by the corporate dividends and the positive financial results of major companies especially in real estate and banks.
ADX market capitalisation rose this week to AED 404.36 billion ($110 billion).
The weekly traded value amounted to AED 1.16 billion, compared with AED 1.26 billion last week.
The real estate sector rose by 7.3% after Aldar and RAK Properties gained 8.3% and 5.56% in a row.
The banks sector also increased by 4.29% powered by ADCB and FGB that added 9.84% and 6.5% respectively.
The telecoms sector rose by 1.55% backed by Etisalat.
Meanwhile, the energy sector shed 0.76% dragged by Dana Gas.
Translated by Sayed Abdel Rahman
