FAB boosts ADX to 4-yr high Thursday

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Thursday on a high note, backed by First Abu Dhabi Bank (FAB).

The general index increased 0.48% or 23.63 points to 4,986.88 points, having nearing the level of 5,000 points, the highest level for the ADX in five years, during the midday trades.

Turnover amounted to AED 247.147 million after 45.72 million shares were exchanged through 1,327 transactions.

The investment sector was the top gainer with 2.55% after Waha Capital jumped 2.78%. The telecommunications sector and its only stock Etisalat grew 0.59% each, while the banks sector added 0.43% after FAB grew 0.68%.

Moreover, the energy sector increased 0.32%, backed by Dana Gas’ 0.91% rise, while the real estate sector went up 0.29% after RAK Properties added 3.33%.

In terms of stocks, National Marine Dredging Co. (NMDC) led the ADX’s risers, surging 7.26%, followed by RAK Cement with 5.63% and Arkan Building Materials with 5.45%.

On the other hand, the consumer staples sector slipped 0.15% after Asmak decreased 1.60%.

FAB was the most active on the ADX on Thursday in terms of value and volume with AED 159.53 million, representing 65% of turnover, and 10.67 million shares traded through 556 transactions.

The ADX grew 2.08% during the week, pushed up by the banks and investment sectors, which surged 3.4% and 3.08%, respectively.

Trading volume reached 128.546 million shares, while liquidity hit AED 630 million. 

Mubasher Contribution Time: 30-Aug-2018 11:30 (GMT)
Mubasher Last Update Time: 30-Aug-2018 14:52 (GMT)