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ADX closes in green amid semi-collective sector rise

ADX closes in green amid semi-collective sector rise
The Abu Dhabi Securities Exchange (ADX) ended its pre-Eid holiday session in the green amid strong gains by the industrial, real estate and banking sectors in addition to telecom company Etisalat.

The market’s benchmark index closed at a 1.05% rise, adding 52.25 pts and closing at 5005.21 pts, thus surpassing the 5000 pt-barrier once more.

The industrial sector led gaining sector after adding four percent, due to major gains particularly by Arkan, which soared by 15%, followed closely by Abu Dhabi Ship Building Co., which surged by 14.5%.

The real estate sector came in second place with a 2.27% rise, supported by Al Dar share, which added 2.57% to AED 3.59. The banking sector also gained today, registering a 0.82% increase amid gains by Abu Dhabi Commercial Bank (ADCB), First Gulf Bank (FGB) and Abu Dhabi Islamic Bank (ADIB), which gained 2.4%, 1.4% and 1.15%, respectively.

The ADX’s telecommunications sector also rose by 1.27% after Etisalat’s share added 1.27% to AED 11.95. ADX trade value reached AED 112.14 million at the closing of Sunday’s session after 26 million shares changed hands through the execution of 941 transactions.