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Abu Dhabi index rises backed by real estate, banks

Abu Dhabi index rises backed by real estate, banks
Abu Dhabi Securities Exchange (ADX) ended Thursday’s session in the green territory, after it opened the day with a slight decline.
The Abu Dhabi Index (ADI) rose 0.44% to end at 4957.79 points.
A total of 106.3 million shares were exchanged in 1817 transactions at AED 252.9 million.
Leading stocks in the real estate and banking sectors helped the market rebound from early slide.
The real estate sector added 1.45% backed by Aldar Properties (+1.56%).
Khaled Ajjaj, GM, Al Sharhan Center, told Mubasher that the UAE markets were relatively calm, especially in Abu Dhabi, due to lack of catalysts.
He noted that small-cap investors traded blue chips.
The banking sector rose 0.44% powered by NBAD (+1.47%) and ADCB (+0.53%). Meanwhile, three other sectors moved lower, topped by insurance (-0.83%) that was pressured by Al Ain Insurance (-9.96%).
Four other sectors remained unchanged, namely energy, telecom, services and investment. The analyst expected the UAE bourses to inch higher next week if the Saudi market shows positive performance.
(written by Bedour Al Raie, translated by Sayed Abdel Rahman)