Abu Dhabi-Mubasher: Abu Dhabi Securities Exchange (ADX) benchmark slumped on Thursday, thus missing analyst estimates, as sectors moved collectively lower. It recorded the biggest one-day loss in five years.
The benchmark index ADI fell 214.60 points, or 4.68%, to close the session at 4368.31 points; its lowest level since January 2014.
Thursday’s traded volume amounted to 187.296 million shares that were exchanged in 4468 transactions at a total turnover of AED 419.47 million.
The index opened Thursday’s session 2.5% or 115.6 points lower at 4468 points.
Waddah Al-Taha, economic analyst, said UAE stock markets became more sensitive to external factors after joining emerging markets indices.
The downbeat global sentiment following the oil slump continues to weigh on UAE markets, amid blurry outlook and lack of catalysts, the analyst told Mubasher.
As for sectors, real estate was the biggest loser (-9.12%) as it was hurt by Aldar (-10%), Manazel (-8.97%) RAK Properties (-6.33%) and Eshraq (-4.55%).
The banks sector also fell 7.05% pressured by UNB (-10%), NBAD (-6.92%), FGB (-5.88%) and Bank of Sharjah (-1.69%).
The energy sector deepened its loss by 4.39%, after Dana Gas plunged by 7.02%.
Meanwhile, Taqa was the sole gainer in the sector (+1.12%).
Etisalat stock also pressured the telecommunications sector lower by 0.44%.