Abu Dhabi – Mubasher:

Retail investors are currently controlling market performance amid the absence of institutional investments, which are also awaiting financials of major companies in order to pump more liquidity into the market, Market analyst and member at the American Society of Technical Analysts Hossam Al Husseiny told Mubasher in an exclusive comment,

He attributed the low levels of trading to an unclear vision regarding the market’s path, added to leading companies like Emaar, Arabtec and Aldar not having announced their financials.

Institutional selling has been clear since the beginning of the year due to the unclear vision regarding the market, amid fluctuating oil prices and global markets, he noted.

Institutional investments on the Abu Dhabi Securities Exchange (ADX) focused on selling against buying by retail investors.

Total institutional buying reached AED 76 million against selling worth AED 87.92 million, with net selling of AED 11.87 million. Meanwhile, retail investors bought stocks worth AED 100 million against selling of AED 88 million.

Since the start of 2015, institutional selling reached AED 2.551 billion against buy worth AED 2.503 billion, resulting in net selling of AED 48 million. Meanwhile, reatils investors bought AED 3.76 billion worth of stocks against selling of AED 3.7 billion.

The ADX ended Tuesday at a slight decline amid limited liquidity compared to Monday and following quick profit-taking on banking and real estate stocks. The market ignored gains by the energy and telecoms sectors.

The ADI fell 0.41%, shedding 19.13 points and closing at 4627.91 points, thus maintaining its position above 4600 points.