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ADX in green on semi-collective sector rise

ADX in green on semi-collective sector rise
Photo Credit: Arabianeye-Reuters

 

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Monday in the green, backed by a semi-collective rise of sectors led by energy sector.

The general index added 0.63% or 30.33 points and closed at 4,821.27 points. Turnover retreated to AED 161.586 million ($44 million) against AED 205.44 million ($56 million) on Sunday, while 100.08 million shares were traded against 159.08 million shares.

Market capitalisation added AED 1.59 billion ($0.433 billion) and reached AED 450.37 billion ($122.613 billion) up from AED 448.78 billion ($122.18 billion) by the end of Sunday.

UAE markets are expected to hold in Monday’s session backed by the financial results of Emaar Properties, which were higher than expected, alongside Etisalat, said market analyst Waddah Taha.

The energy sector rose 1.78% as Dana Gas and TAQA were up 1.89% and 1.47%, respectively. The real estate sector increased 1.60% as Aldar and Eshraq gained 1.52% and 1.28%, respectively.

The banking sector grew 0.69% as First Gulf Bank (FGB) rose 1.64%, whereas the National Bank of Abu Dhabi (NBAD) and Abu Dhabi Commercial Bank (ADCB) reduced gains and fell 0.47% and 0.37%, respectively.

Mithaq Takaful recorded the highest turnover on the ADX today after trading for AED 28.81 million, while Manazel Real Estate was the most active in terms of number of shares traded, which reached 30 million shares.

The banking sector was the most active in terms of traded value, after trading for AED 54.74 million as FGB alone traded for AED 28.12 million.