Abu Dhabi Securities Exchange (ADX) reversed its downward movement till mid-session to end the day in the positive territory, backed by the strong rise of Aldar Properties, despite the bearish performance of Etisalat stock.
The benchmark index ADI rose 1% or 50 points to close above the 5000 level. Thus, it gained 102 points during Thursday and Sunday.
The UAE markets closed for three days on the occasion of Eid ul-Fitar.
Real estate sector led the way on gains among sectors with a rise by 4.43%, buoyed by Aldar Properties (+5%).
Tracking stock performance, Watania was the top gainer, soaring 14%, after the news the company posted AED 2 million net profit, against AED 7 million net loss in the same period a year earlier.
The benchmark index was also backed by bank stocks rise; CBI (+5.8%), NBAD (+2.8%) and FGB (1.1%). On the flipside, the telecommunications and energy sectors went down 3.8% and 0.6% respectively, weighed by Etisalat (-3.8%) and Taqa (-1.74%). Thursday’s turnover amounted to AED 180 million, while the traded volume reached 43.49 million shares and number of transactions reached 1644.
The benchmark index ADI rose 1% or 50 points to close above the 5000 level. Thus, it gained 102 points during Thursday and Sunday.
The UAE markets closed for three days on the occasion of Eid ul-Fitar.
Real estate sector led the way on gains among sectors with a rise by 4.43%, buoyed by Aldar Properties (+5%).
Tracking stock performance, Watania was the top gainer, soaring 14%, after the news the company posted AED 2 million net profit, against AED 7 million net loss in the same period a year earlier.
The benchmark index was also backed by bank stocks rise; CBI (+5.8%), NBAD (+2.8%) and FGB (1.1%). On the flipside, the telecommunications and energy sectors went down 3.8% and 0.6% respectively, weighed by Etisalat (-3.8%) and Taqa (-1.74%). Thursday’s turnover amounted to AED 180 million, while the traded volume reached 43.49 million shares and number of transactions reached 1644.
Source:
Mubasher Exclusive
