By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index inched up 0.07% or 2.95 points on Wednesday to close at 4,499.39 points.
Dana Gas’ stock led the ADX’s gainers and jumped 4.11%, its highest level in two months, after the declaration of truce in Kurdistan region, pushing up the energy sector, which levelled up 3.31%.
Dana Gas was the most actively-traded stock in terms of volume, with 22.3 million traded shares and a turnover of AED 16.8 million, generated through 215 transactions.
The declaration of truce in Kurdistan region after the completion of the separation referendum will reflect positively in Dana Gas’ results, which increased the company’s stock on Wednesday, Technical analyst Gamal Abdul Hamid told Mubasher.
On the other hand, the real estate sector went down 0.13%, weighed down by Eshraq Properties, which sank 1.27%.
The banks sector edged down 0.01% after Sharjah Islamic Bank (SIB) tumbled 2.82% and Union National Bank (UNB) decreased by 0.23%.
The ADX’s trading volume shrank to 81.1 million shares, compared to 107.89 million shares on Tuesday, while the turnover more than halved to AED 106.2 million through 902 transactions, from AED 254.73 million at the previous session.
Translated by: Muhammad Abdulwakeel
