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ADX slips in a week on telecoms, real estate

ADX slips in a week on telecoms, real estate
Photo Credit: Arabianeye - Reuters

By Esraa Mohamed

Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange (ADX) ended the week on a down note, as it was pressured by telecom and real estate stocks.

The benchmark index ADI lost 0.72% or 34 points to close the week at 4726.7 points.

The weekly turnover declined to AED 906.16 million,  down 22% from AED 1.16 billion last week. Traded volume decreased to 421.3 billion shares from 438.7 billion shares.

The telecommunications sector led the way on losses, falling 2.86%, amid pressures from Etisalat that dropped by the same rate following negative news about Mobily’s revised financial statements for the fiscal year 2013-2014.

The real estate sector also slid 2.68% after Aldar Properties lost 2.52%.

Meanwhile, the banks sector gained 0.19%, backed by NBAD that rose 2.84%. ADCB declined by 1.41%. The energy sector rose 9.19% backed by Dana Gas and Taqa that added 10.87% and 1.48% in a row.

Translated by Sayed Abdel Rahman