By: Mahmoud Gamal
Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) stabilised in the green on Monday after witnessing a volatile session.
The general index rose 0.26% or 12.05 points to reach 4,633.21 points.
The market’s uptrend is mainly attributed to the increase of positions in blue chips, despite lower oil prices, capital market analyst Mohamed Al Dhafiri said.
Trading volume reached 80.6 million shares on Monday, compared to 112.55 million shares on Sunday.
Turnover stood at AED 166.13 million, compared to AED 152.6 million.
The consumer staples sector grew 1.2% as Agthia Group advanced 2.12%.
The market’s stability above 4,600 points is backed by the positive performance of major sectors led by the telecom's, Al Dhafiri added.
The telecom sector went up 0.53% due to a rise in Etisalat by 0.53%.
The energy sector recovered 0.36% after TAQA increased 1.56%.
The banks sector levelled up 0.25% as First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) added 0.77% and 0.77% in a row.
The real estate sector rose 0.07% as Aldar Properties grew 0.36%.
The market is expected to maintain its rise and break 4,650 points as some stocks reached attractive price levels, Al Dhafiri concluded.
