By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) witnessed gains in November amid higher trades, spurred by the growth of banks and real estate sectors.
The main index rose 0.2% or 8.59 points to reach 4,308.77 points.
The bourse’s monthly performance was good in terms of trading volume and market capitalisation, according to Eyad Al Bariqi, Trading Director of Al Ansari Financial Services.
Turnover stood at AED 6.09 billion in November, compared to AED 2.33 billion in October. Trading volume reached 4.47 billion shares, compared to 1.13 billion.
The banks sector went up 1.76% as National Bank of Abu Dhabi (NBAD), First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) rose 6.21%, 3.04% and 0.65% respectively.
The real estate sector increased 0.64% after Eshraq Properties and Manzel Real Estate advanced 25.32% and 10.64%. However, Aldar Properties fell 6.06%.
Eshraq’s stock acquired 46% of the market’s liquidity after generating AED worth AED 2.87 billion
The telecom sector retreated 1.06% as Etisalat levelled down 1.06%.
Market capitalisation fell by AED 6.17 billion ($1.7 billion) to AED 441.09 billion ($120.06 billion) this month, compared to AED 447.26 billion ($121.7 billion) last month.
The energy sector fell 0.59% after TAQA levelled down 19.35%.
Liquidity was focused on blue chips especially in the last trading session of November, backed by positive news regarding the OPEC meeting, Al Bariqi noted.
The UAE bourses will be closed on 1 December on the occasion of the Martyrs' Day and the 44th UAE National Day.
Translated by: Julian Nabil
