The Abu Dhabi Securities Exchange (ADX) ended Thursday in the red, recording its third successive decline this week after its benchmark index shed 0.46% or 22.36 points to 4797.90 points.
Turnover was weak amounting to AED 220.83 million as 78.65 million shares were traded through 1704 transactions. A total of 34 companies traded, of which 12 gained, 10 fell, and 12 remained unchanged.
Market performance was mixed as the banking sector and consumer staples sectors topped decliners falling 1.01% and 0.96%, respectively, whereas the investment and services sectors topped gainers, rising by 3.74% and 2.10%, respectively. The real estate sector gained 1.06%.
The banking sector had the strongest impact on the index the most today as First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) retreated by 1.91% and 1.21%, respectively.
Abu Dhabi Aviation topped gainers, soaring by 14.71%, followed by Union Cement Company (UCC) and Finance House (FH), which added 10.85% and 7.65%, respectively.
On the other hand, Al Buhaira National Insurance Company (ABNIC) and Abu Dhabi Ship Building (ADSB) topped losers, dropping 9.88% and 8.26%, respectively.
Eshraq Properties topped the most active stocks by volume on Thursday, gaining 0.97% as 37.03 million shares were traded through 312 transactions. Aldar Properties came in second rising by 0.95% as 12.19 million shares were traded through 350 transactions. Aldar had announced earlier today that Moody’s had upgraded it to ‘investment grade’; however the stock had performed negatively during the first half of the session.