By: Mahmoud Gamal
Dubai – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a negative performance on Sunday, weighed down by profit-taking on blue chips topped by Aldar Properties and First Abu Dhabi Bank (FAB).
The general index sank 0.31% or 13.82 points to reach 4,479.99 points.
The consumer staples sector led losers with a 2.05% decline as Agthia Group retreated 3.3%. The real estate sector went down 1.3% as Aldar Properties and Eshraq Properties tumbled 1.28% and 1.2%, respectively.
The banks sector remained stable; yet, Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) tumbled 0.6% and 0.5%, respectively.
Some portfolio investors decreased their positions in blue chips especially in the banks and real estate sectors, amid anxiety ahead of the Eid Al Adha holiday, technical analyst Gamal Asaad stated.
The UAE bourses announced that the Eid Al Adha holiday will start on 31 August, with trading activities to resume on 4 September.
Translated by: Julian Nabil
