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Abu Dhabi index ends higher; banks limit gains

Abu Dhabi index ends higher; banks limit gains

Shares on the Abu Dhabi bourse closed in the positive territory Tuesday, lifted by blue-chips stocks in both real estate and energy sectors, while banks stocks limited gains.

ADX, the main benchmark stock index, ticked up 0.04% or 1.87 points to 5053.4 points.

“Investors were accumulating in property stocks Tuesday, the same time they were selling heavily the banks stocks,” said Nedal Khouly, head of Gulf Research in Nemma Investment.

Shares in heavyweight Aldar climbed 3.2%, serving as the main boost to the index, while shares in First Gulf Bank, the weightiest in the index, lost 1.62%.

Abu Dhabi Islamic Bank and National Bank of Abu Dhabi closed unchanged.

Shares in TAQA jumped 1.77%, while Dana Gas closed flat.

Turnover came in AED 270.22 million, through the trade of 84.46 million shares.