Banks weigh on ADX Wednesday

By: Bedour Al Raee

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index lost 56.06 points, or 1.12%, to close at 4,927.92 points on Wednesday, dragged down by the banks sector.

The ADX’s trading volume reached 96.56 million shares, while the market’s liquidity hit AED 424.423 million.

Union National Bank (UNB) surged 11.74%, while Abu Dhabi Commercial Bank (ADCB) dropped 4.62% and First Abu Dhabi Bank (FAB) decreased by 2.76%, leading the banks sector to a 2.02% decline.

The real estate sector shed 0.37%, as Aldar Properties levelled down 0.52% and Eshraq Properties lost 0.17%.

On the other hand, the energy sector gained 0.84%, while the telecommunications sector and its only stock, Etisalat, grew 0.6%.

The ADX has taken some measures that could attract more liquidity, which gives a bright image about its performance in the coming period, especially that oil prices have stabilised, vice president of Investment Research at KAMCO Raed Diab told Mubasher.


Translated by: Muhammad Khalid

MUBASHER Contribution Time: 05-Sep-2018 12:08 (GMT)
MUBASHER Last Update Time: 05-Sep-2018 12:16 (GMT)