Real estate sector pressures ADX down at open

Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) opened in the red, weighed by the decline of real estate stocks.

The general index retreated 0.10% or 4.13 points to reach 4,243.85 points by 10:45am UAE time.

Turnover reached AED 11.24 million after 3.45 million shares were traded through 105 transactions.

The UAE markets are expected to continue their volatile trend amid the struggle ensued between buyers and sellers as stocks reached attractive price levels, analysts earlier told Mubasher.

The consumer staples sector fell 3% as Agthia Group went down 3.5% to AED 7.6.

The services sector decreased 2.4% after Abu Dhabi National Insurance Co. slid 5.9%.

The real estate sector levelled down 0.54% due to a decline in Eshraq Properties and Aldar Properties by 1.8% and 0.4%.

 

Mubasher Contribution Time: 29-Dec-2015 06:51 (GMT)