By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index grew 7.16 points, or 0.16%, to close at 4,486.65 points on Wednesday, pushed up by the banks sector.
Trading volume reached 73.74 million shares, while trading value hit AED 136.96 million.
The banks sector added 1.39% after National Bank of Umm Al Qaiwain (NBQ) skyrocketed 11.11% and First Abu Dhabi Bank (FAB) gained 1.75%.
On the other hand, the investment sector tumbled 2.56% after Waha Capital went down 2.78%, while the real estate sector declined 1.84%, as Aldar Properties retreated 1.93%.
The telecommunication sector and its only stock, Etisalat, levelled down 1.5% each.
The energy sector sank 1.09% after TAQA fell 2.92%.
Aldar Properties topped the ADX in terms of value, with a turnover of AED 24.5 million, while Dana Gas led the market in terms of volume, with 16 million traded shares.
The ADX grew on the back of a technical correction, in addition to the improvement of investors’ morale following Donald Trump’s decision to pull out Iran Nuclear agreement, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
However, the market is in need of new incentives to offset the usual declension in liquidity during Ramadan, Diab added.
Translated by: Muhammad Khalid
