By Bedour El Raie
Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange slipped in the second week of February amid negative performance in sectors except for energy that bucked the downtrend.
Market capitalisation lost around AED 6.75 billion ($1.84 billion) to reach AED 393.41 billion ($107.08 billion).
The main index sagged 1.67% or 68.97 points in the week to end at 4,071.80 points, down from 4,140.77 points last week.
The weekly traded value declined to AED 1.238 billion ($337 million), from AED 1.44 billion ($392 million). Traded volume amounted to 1.22 billion shares, compared with 1.11 billion shares.
The instability in global markets, along with the fall in oil prices, cast their shadows on UAE stocks, especially in Dubai, in addition to the dominance of speculations, said Talal Al Khouri, CEO of Al Awael Holding.
The real estate sector dropped by 2.51% after Aldar retreated by 4.2%. Meanwhile, Eshraq trimmed the sector losses, as it rose by 5.26% to come on top among actives across the board.
The banks pulled back 2.02%, driven lower by ADCB (-6.15%) and FGB (-1.71%).
The telecommunication sector sagged 0.62% after Etisalat saw the same decline.
The services sector was the biggest loser, pressured by Marine Dredger (-21%) and Julphar (-8%).
The energy sector was the sole gainer, adding 7.9%, after Dana Gas rose by 11.11%.
Translated by Sayed Abdel Rahman
