By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Sunday in the green, backed by its blue chips as investors preferred to keep their stocks to begin profit-taking at a later time.
The general index added 0.35% or 15.63 points and closed at 4,429.79 points.
Turnover fell to AED 153.22 million on Sunday from AED 200.32 million on Thursday, while traded volume nearly doubled to 159 million shares traded versus 85.12 million. A total of 1,608 transactions were carried out on Sunday.
Commenting on the ADX’s performance, vice president of Investment Research at KAMCO Raed Diab said that the Abu Dhabi market suffered declines last week on the back of profit-taking, which hit most of the market’s blue chips.
In a comment to Mubasher, the analyst forecast that the market will see a jittery performance in the coming sessions until new strong catalysts arise such as the third quarter financial disclosures.
On Sunday, the ADX’s banks sector gained 0.30% after First Abu Dhabi Bank (FAB) increased 0.49%, while the telecom sector and its stock Etisalat both grew 0.28%.
Dana Gas’ stock was the most active in terms of value and volume with AED 34.6 million and 46.5 million shares traded.
Translated by: Nada Adel Sobhi
