Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed the week ended Thursday, 6 July in the red, pressured by the banks sector.
The general index fell 0.66% or 29.05 points to 4,396.34 points.
Turnover amounted to AED 799.33 million after 657.860 million shares were exchanged through 6,780 transactions.
Market capitalisation for local companies amounted to AED 423.62 billion ($115.31 billion).
The banks sector fell 1.71%% after First Abu Dhabi Bank retreated 2.86%.
On the other hand, the energy sector led risers, gaining 6.83% after Dana Gas surged 7.81%, while Abu Dhabi National Energy Co. added 2.04%.
Eyad Al-Bareeqy, general manager at Al-Ansari Financial Services (AFS) noted that UAE market performance this week was relatively jittery as oil prices fluctuated.
Markets were impacted by fluctuating oil prices, Al Bareeqy told Mubasher, noting that quick daily profit-taking executed on stocks whose prices had increased, including blue chips, also led to declines in some sessions this week.
Markets normally see fewer trades and lower liquidity during the summer months, the analyst added, noting that investors are awaiting several positive catalysts including second quarter financials.
