By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) gained about AED 9 billion by the end of February thanks to selective purchases on leading shares, according to markets analysts.
The main index advanced 297.04 points to the level of 4,351.41 points, compared to 4,054.37 points in January.
“Traders were positively affected by the rise in oil in February, as well as good cash dividends approved and recommended by most of the companies” markets analyst, Hareb Omar , told Mubasher.
Abu Dhabi stocks rose last month by AED 8.8 to AED 418.14 billion, compared to AED 409.31 billion in January.
Turnover increased to AED 5.7 billion from AED 3.46 billion. Trading volume also rose from 1.85 billion shares to 5.01 billion shares.
Technical analyst, Mohamed Sonbol, suggested that the index’s ability to stay above 4,300 points pushes it to the levels of 4,450 and 4,550 points.
First Gulf Bank 12.33% to AED 12.75, Aldar grew 9.2% to AED 2.5, Etisalat leapt 8.6% to AED 17.55 and Eshraq jumped 5.5% to AED 0.77.
Translated by: Elwy el-Manzalawy
