By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index edged up 6.25 points, or 0.14%, to 4,577.42 on the back of the energy and telecommunications sectors.
Over the week, the ADX saw great support from strategic investors, especially on Etisalat’s stock, member of the National Advisory Board of Chartered Institute for Securities &Investments (CISI) Waddah Al-Taha commented.
Around 31 stocks were traded at prices below their nominal value, including Aldar Properties, Gulf Cement, Bank of Sharjah, and Union National Bank (UNB), which is considered a positive indicator, Al-Taha added.
The ADX’s trading volume fell to 255.69 million shares from 295.51 million in the previous week, while the market’s liquidity dropped to AED 558.65 million, compared to AED 611.78 million a week earlier.
The energy sector grew 1.3% after TAQA soared 19%, while ADNOC Distribution added 1.14% to AED 2.67.
The telecommunication sector and its only stock Etisalat grew 0.58% each.
On the other hand, the real estate sector levelled down 1.07%, as Aldar Properties sank 1.37% to AED 2.16.
The banks sector inched down 0.01% after Mashreq Bank plunged 3.7%.
Translated by: Muhammad Khalid
