Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Monday at a rise, its third in a row, backed by the telecom sector’s Etisalat.

The general index gained 0.30% or 14.14 points and closed at 4,751.72 points. Turnover increased to AED 307.7 million, up from AED 230.4 million on Sunday, while 260 million shares were traded through 2,158 transactions against 269.3 million shares and 2,286 transactions the day before.

Local markets currently rely on external factors especially in the absence of internal catalysts; however, as the season for announcing companies’ financials approaches, the situation will change and results will control market performance, analysts told Mubasher.

The telecom sector topped gainers, surging 3.26% as Etisalat saw similar gains. The services sector added 0.36% as National Marine Dredging Co. (NMDC) grew 2.56%.

The banking sector’s 0.46% decline reduced the index’s gains as Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank (FGB) fell 1.3% and 0.99%, respectively. The real estate sector retreated 0.44% as Eshraq and Aldar lost 1.23% and 0.37%, respectively.

Etisalat topped rising stocks, adding 3.26%, followed closely by Arkan Building Materials, which grew 3.1%. On the other hand, TAQA led losers, sliding 4.17%.

Dana Gas was the most active in terms of traded volume and transactions making up nearly half of the ADX’s trades; however, the stock fell 1.72%.