Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) reversed its direction during Wednesday’s mid-session following pressures from the real estate, telecom and banking sectors.

The general index retreated 0.45% or 21.4 points to 4,701.8 points by 12pm UAE time. Turnover reached AED 115.1 million as 27 million shares were traded through 533 transactions.

Analysts told Mubasher that the Greek debt crisis and current geopolitical events are expected to be reflected on UAE markets on Wednesday and in the coming period.

The real estate sector fell 0.8% as Aldar and Eshraq dropped 0.74% and 1.30%, respectively, while the telecom sector and its stock Etisalat lost 0.74%.

The banking sector shed 0.34% as Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank (FGB) fell 0.39% and 0.66%, respectively.

ADCB was the most active in terms of turnover after the stock traded for AED 57 million with 7.4 million shares were traded. The stock retreated to AED 7.6.

Earlier today, the ADX opened at a rise backed by TAQA and Etisalat.