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ADX ends in green as telecom, energy rise

ADX ends in green as telecom, energy rise
Photo Credit: Arabianeye-Reuters

 

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Thursday at a rise backed by the telecom, energy and banking sectors.

The general index gained 0.63% or 29.6 points and closed at 4,726.7 points, regaining the level of 4,700 points once more. Turnover reached AED 161.5 million as 121.7 million shares were traded through 1,427 transactions.

Analysts told Mubasher that UAE markets are likely to remain stable on Thursday after global pressures have been lessened with regards to Greece’s financial crisis.

The telecom sector led risers, adding 1.49% as Etisalat saw a similar increase, while the energy sector grew 1.37% as Dana Gas surged 4%, whereas TAQA trimmed the sector’s gains, sliding 5.4%.

The banking sector added 0.73% on the back of gains by First Gulf Bank (FGB), the National Bank of Abu Dhabi (NBAD), Abu Dhabi Commercial Bank (ADCB) and Abu Dhabi Islamic Bank (ADIB).

On the other hand, the real estate sector reduced gains, after falling 1.44% as Aldar and Eshraq lost 1.45% and 1.28%, respectively.

Aldar was the most active in terms of turnover, reaching AED 34.18 million as 12.5 million shares changed hands. The stock reached AED 2.71.

The ADX ended Wednesday in the red amid pressure from the banking and telecom sectors. The general index fell 0.55% to 4,697 points.