Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bullish performance on Wednesday amid lower trading activity.
The general index rose 0.53% or 24.12 points to reach 4,596.69 points.
Turnover stood at AED 259.65 million on Wednesday, compared to AED 263.11 million on Tuesday. Trading volume reached 185.33 million shares, compared to 263.11 million shares.
The market’s rise for the second successive session reflects investors’ positive sentiment, backed by the positive performance of banks stocks, Raed Diab, vice president of Investment Research Department in KAMCO, told Mubasher.
ADX is likely to continue its rise in the coming period, backed by the growth of banks stocks, Diab added.
The insurance sector was the best performer with a 2.2% rise as National Takaful Company (Watania) grew 14.8%.
The banks sector went up 1.38% after National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) grew 2.5% and 2.26% respectively.
On the flipside, the energy sector fell 3.2% as Dana Gas slid 4%. Likewise, the real estate sector decreased 2.6% as Aldar Properties slid 2.7%.
