Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) general index opened in the red on Wednesday amid negative performance on its leading stocks in the energy, real estate and banking sectors.

The benchmark index fell 10.75 points or 0.24% by 11am UAE time to reach 4,380 points, marking a decline after two straight sessions of gains. Around 46.5 million shares were exchanged through 759 transactions at a value of AED 79.4 million.

The ADX closed in the green on Tuesday, backed by the energy, real estate and telecom sectors.

UAE markets should see a sideways performance in the coming period, analysts told Mubasher, adding that the declining trend is still present alongside anticipated fluctuations in oil prices.

The energy sector led the decliners, falling 2.24% as TAQA plunged 6.25%, ranking the biggest losing stock on the ADX.

The real estate sector fell 0.61% as Aldar Properties lost 1.24%. The telecom sector and its stock Etisalat retreated 0.4% to AED 12.40, following its shareholders’ approval for dividend distributions.

The banking sector shed 0.28% as Bank of Sharjah (BOS), First Gulf Bank (FGB) and Abu Dhabi Commercial Bank (ADCB) retreated 3.2%, 0.71% and 0.16%, respectively.

Only the investment and industrial sectors were in the green, rising 3.2% and 0.47%, respectively.