By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index added 14.03 points, or 0.29%, to close at 4,846.25 points on Monday, boosted by blue chips.
The ADX’s trading volume reached 38.07 million shares, while the market’s liquidity amounted to AED 131.311 million.
The disclosures for the first six months of 2018 urge investors to selectively buy certain shares, technical analyst Gamal Abdul Hamid told Mubasher.
The UAE markets are expected to recover, as listed companies post their statements, CEO of NamaaZone Research Iyad Aref said.
The energy sector grew 0.5% after Taqa and Adnoc Distribution added 1.65% and 0.8%, respectively.
The banks sector went up 0.39%, as RAK Bank soared 4.52% and First Abu Dhabi Bank (FAB) rose 0.74%.
The telecommunication sector and its only stock, Etisalat, gained 0.29% each.
On the other hand, the consumer staples sector shed 0.29%, as Asmak lost 1.55%.
Dana Gas topped the ADX in terms of volume, with 13.45 million traded shares, while FAB led the market in terms of liquidity, with a turnover of AED 45.19 million.
The market’s liquidity may increase at the end of the week, Aref noted.
Translated by: Muhammad Khalid
