Abu Dhabi-Mubasher: The Abu Dhabi Securities Exchange (ADX) declined in Monday’s early trades, pressured by a drop in the real estate, energy and banks sectors.
The index lost 0.21% or 9.71 points to 4,584 points. In addition, trading volume reached 32 million shares, at a turnover of AED 59 million, traded through 493 transactions.
The energy sector dropped 2.4% as Abu Dhabi National Energy Co lost 2.47%.
The banking sector also fell 0.20% as National Bank of Umm Al Qaiwain and Abu Dhabi Islamic Bank declined 9.75% and 0.2%, respectively, ignoring the rise of Abu Dhabi Commercial Bank by 0.52%.
The real estate sector inched down 0.22%, pressured by Aldar Properties which lost 0.20%, shrugging off the increase of RAK Properties by 1.35%
The telecom sector trimmed the losses of the ADX as it rose by 0.81%, backed by Etisalat, which gained 0.81%.
Markets need to build new factors to boost investor confidence by focusing on companies’ performance in the first and second quarters of this year, analysts told Mubasher.