Banks sector drags ADX into red

Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) closed in the red for the second session in row on Wednesday, overshadowing the gains of energy, real estate and telecom sectors.

The general index declined 0.64% or 26.40 points to reach 4,083.86 points.

Trading volume declined to 73.144 million shares Wednesday from 103.103 million shares. Turnover fell 25.15% to AED 255.32 million ($69.51 million) from AED 341.143 million ($92.86 million).

The banks sector led losers after decreasing 1.57%, weighed by Abu Dhabi Islamic Bank (-4.15%), First Gulf (-2.14%), National Bank of Abu Dhabi (-1.74%) and Abu Dhabi Commercial Bank (-1.41%).

The real estate sector gained 1.77% after Aldar Properties and Manazel Real Estate advanced 2.19% and 1.85%, respectively.

The telecom sector increased 0.31% as Etisalat rose to be the value leader with turnover reaching AED 67.7 million.

MUBASHER Contribution Time: 09-Dec-2015 10:38 (GMT)