By Bedour El-Raie

Abu Dhabi-Mubasher: The Abu Dhabi Securities Exchange (ADX) performed positively this week, thus reversing a three-week losing streak.

The benchmark index ADI rose 0.82% or 35.5 points to close at 4373.13 points. It moved higher on Monday, Tuesday and Thursday, but moved lower in the other two sessions.

The market was mainly buoyed by the banks sector that rose 1.71% on the positive performance of First Gulf Bank (FGB) that gained 5.47%. Meanwhile, market maker NBAD lost 3.45%, ADCB (-0.17%) and Invest Bank (-7.41%).

The energy sector also lost 5.57% due to the fall of Dana Gas by 11.6%.

The real estate sector sagged 2.08% weighed by Eshraq (-9.33%). Meanwhile, Aldar Properties rose by 3.60%.

The telecoms sector rose 0.41% backed by Etisalat that soared on news that the company’s shareholders approved cash dividends and capital hike.

The weekly turnover increased to AED 977.133 million from AED 840 million a week earlier. Traded volume also rose to 410.55 million shares from 315.65 million shares.

The market rise is positive, but liquidity levels are still low and could not help the market steady, said Waddah Al Taha, market analyst.

He added that the market was buoyed by the rise in oil prices.

Tarek Al Essawy, analyst, also said UAE markets are still suffering thin liquidity.

Translated by Sayed Abdel Rahman