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ADX rises for 2nd session as Dana Gas leaps

ADX rises for 2nd session as Dana Gas leaps
Photo Credit: Arabianeye-Reuters

 

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Sunday, the first trading session of the week, in the green on the back of the energy sector’s Dana Gas.

The general index added 0.23% or 10.86 points to 4,737.5 points. Turnover reached AED 224.5 million as 259.6 million shares changed hands through 2,286 transactions, up from AED 161.5 million on Thursday after 121.7 million shares were traded.

Dana Gas’ stock was the biggest contributor to today’s gains, as the stock soared 13.37% to AED 0.58, it highest rise since the start of 2015 after the company said it won an arbitration award to develop an oilfield in Kurdistan, Iraq. The stock’s gains prompted the energy sector to rise 1.37%.

The telecom sector led risers, adding 1.49% as Etisalat saw similar gains, while the banking sector grew 0.37% as Abu Dhabi Commercial Bank (ADCB) inched up 0.13%, whereas the National Bank of Abu Dhabi (NBAD) and Abu Dhabi Islamic Bank (ADIB) fell 1.38% and 1.53%, respectively.

The real estate sector retreated 1.44% as Eshraq plunged 5.19%.

The ADX previously closed the session at a rise backed by the telecom, energy and banking sectors.