Abu Dhabi – Mubasher:

The Abu Dhabi Securities Exchange (ADX) general index continued its decline on Sunday, pressured by the banking sector, despite gains on the real estate and energy sectors.

The ADI fell 0.27% or 12.44 points to 4656.54 points, whereas it had gained 0.2% or 9 points to 4678 points following the first hour of trading today.

The ADX witnessed a turnover of AED 98.855 million as 39.60 million shares traded through 840 transactions.

The banking sector fell 0.62% as ADCB, NBAD and FGB lost 1.18%, 1.07% and 0.28%, respectively.

The telecom sector topped gainers, rising by 0.87% as Etisalat gained similarly. The energy sector followed with 0.85% as its stock TAQA gained 2.67%. The real estate sector increased by 0.34% as Aldar added 0.38% and topped trades with a turnover of AED 29 million, making up 77% of the sector’s total trades.

The consumer staples sector dropped 1.86% as Agthia fell 2.34%.

Analysts told Mubasher that they expect external factors to be the main driving force for UAE stock markets in the current period, particularly after most large companies have concluded announcing their financial results.

Crude Brent was stable above $60 per barrel on Friday after news that the number of oil digging sites had declined in the US, surpassing fears of an abundance of oil supply.