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ADX cuts most losses as real estate, energy recover

ADX cuts most losses as real estate, energy recover

 

Abu Dhabi – Mubasher:  The Abu Dhabi Securities Exchange (ADX) ended Tuesday, the mid-week session, in the red, registering its second successive loss, following pressures from the banking sector and ignoring gains from top sectors. The ADI lost 0.10% or 4.31 points to 4530.20 points, its lowest level since mid-January 2015.

The banking sector retreated by 0.57% as Abu Dhabi Islamic Bank (ADIB) plunged by 9.40%, while First Gulf Bank (FGB) shed 0.57%.

The industrial topped losers, falling 1.07% as Arkan Building Materials and Abu Dhabi Ship Building (ADSB) plummeted by 9.24% and 7.41%, respectively.

On the other hand, the energy sector added 1.26% as TAQA gained 3.90%. Moreover, the real estate sector added 0.92% as RAK Properties, Eshraq and Aldar rose by 1.35%, 1.33% and 0.82%, respectively.

The telecom sector added 0.90% as Etisalat gained similarly. Earlier today, the telecom firm announced selling its stake in seven companies to Maroc Telecom in a deal worth EUR 474 million (AED 2.5 billion).

Around 84.32 million shares were traded through 1731 transactions at a turnover of AED 209.86 million, against 84.12 million shares at a turnover of AED 84.12 million on Monday.