The Abu Dhabi Securities Exchange (ADX) dropped by 1.54% or 73.97 pts to 4719.58 pts on Monday.

Turnover was seen at AED 317.4 million as 84.4 million shares were traded through 2930 transactions. Moreover, a total of 28 companies traded, of which 13 were in the red, 6 were in the green and 9 remained unchanged.

Market performance was mixed as the industrial sector rose by 1.86% and the insurance sector inched up by 0.17%. On the other hand, the real estate sector slid by 3.90%, followed by the banking sector, which lost 1.93%.

RAK Ceramics topped gainers, surging by 7.46%, followed by Union National Bank (UNB), which added 3.31%. Meanwhile, Emirates Driving topped losers, plunging by 10%, followed by Finance House (FH), RAK Properties, Abu Dhabi Commercial Bank (ADCB) and Aldar Properties, which shed 9.05%, 4.60%, 4.42% and 4.27%, respectively.

The real estate’s sector was pressured by the negative performance of Aldar Properties and RAK Properties.

Commenting on the ADX’s performance today, general manager at Al Sherhan Centre for Securities and Bonds Gamal Aggag said that the UAE markets’ declines today come as a surprise, particularly after Sunday’s gains, which had come to make up for the losses of the past week. However, the pressures by the ADX’s leading sectors, the banking and real estate sectors led to today’s declines.

Meanwhile, capital market expert Ibrahim El Filkawy noted that a negative atmosphere is looming over Gulf markets including the UAE market.

Many traders in the Gulf markets are awaiting global news, which will impact the local markets, he told Mubasher, adding that if global markets rise, local markets will gain, and vice versa.

What is happening in UAE markets particularly on the DFM are mere speculations and selling of what portfolios have acquired prior to the recent declines, he added.