Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) reversed the downtrend it witnessed in Monday’s early trades.
The general index rose 0.6% or 27.16 points to reach 4,476.48 points.
Fresh position-building in blue chips and some banks stocks, as well as higher oil prices, helped the ADX wipe out its early losses today, analyst Ahmed Abdul Jalil told Mubasher.
The market generated AED 178.85 million from the exchange of 132.4 million shares.
The telecom sector rose 0.8%, drawing support from Etisalat’s stock.
The real estate sector advanced 0.6% as Eshraq Properties and Aldar Properties levelled up 1.23% and 0.4% in a row.
The banks sector recovered 0.4% after the National Bank of Abu Dhabi (NBAD) increased 4.8%.
On the other hand, the investment sector slid 0.5% due to a decline in Waha Capital.
Abu Dhabi’s market is likely to continue its upward trend and target 4,500 points, especially amid the recovery of global markets, Abdul Jalil noted.
