Banks stocks push ADX up in early trades

Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) opened at a slight rise on Wednesday, backed by the positive performance of the banks sector.

The general index advanced 0.02% or 0.7 points to reach 4,387.12 points by 10:20am UAE time.

Turnover reached AED 5.64 million after trading 2.78 million shares through 62 transactions.

The banks sector was the only gainer with a 0.2% increase, spurred by the growth of Union National Bank (UNB) and Abu Dhabi Commercial Bank (ADCB) by 1.85% and 0.84% respectively.

UNB was the value leader after generating AED 3 million.

On the flipside, the telecom sector slid 0.26% due to a decline in Etisalat.

Asmak led losers after falling 4.85%, while Manazel Real Estate was the best performer after rising 1.85%.

Mubasher Contribution Time: 15-Jun-2016 07:00 (GMT)
Mubasher Last Update Time: 15-Jun-2016 07:00 (GMT)