Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) traded down early Sunday, pressured by four sectors, particularly telecommunications and banks.
The general index shed 0.91% or 40.54 points to 4,416.76 points by 11am UAE time, in line with analysts’ expectations.
The telecoms sector and its stock Etisalat both declined 1.12%, while the banks sector lost 1% after First Gulf Bank (FGB) and the National Bank of Abu Dhabi (NBAD) retreated 1.6% and 1.5%, respectively.
The real estate sector was down 0.46%, after Aldar Properties fell 0.42%.
Turnover reached AED 20.43 million after 9.052 million shares changed hands through 209 transactions.
Eshraq’s stock was the most active on the market with a turnover of AED 5.12 million and 4.48 million shares traded. The stock was down 0.8% to AED 1.14.
Earlier on Sunday, analysts told Mubasher that the two UAE stock markets were awaiting the decisions to be taken by Arabtec’s board during their meeting scheduled for later in the day and which will tackle the continuity of the business and capital restructuring programme.
