Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) opened Wednesday at a decline amid pressure from the real estate and banking sectors, following a strong rise on Tuesday.

The general index shed 0.41% or 17.67 points to 4,316.50 points by 10:30am UAE time. Turnover reached AED 43.77 million as 38.3 million shares were traded through 613 transactions.

The real estate sector led fallers, sliding 2.90% as Eshraq and Aldar dropped 4.62% and 2.63%, respectively. Aldar was the most active with traded value of AED 18.5 million.

The banking sector slipped 0.7% as Abu Dhabi Commercial Bank (ADCB), National Bank of Abu Dhabi and Abu Dhabi Islamic Bank (ADIB) were down 3.87%, 1.53% and 1.10%, respectively. The telecom and energy sectors bucked the downturn, gaining 1.6% and 1.34%, respectively.

Analysts told Mubasher earlier today that UAE stock markets are likely to continue recovering from the recent losses after news that global market indices are also seeing a rebound, while oil prices remain stable.

The ADX bounced upwards on Tuesday, its first rise as  after three straight declines, backed by rebounding energy, banking and real estate sectors