By: Mahmoud Gamal

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Monday in the red, its third decline in a row, amid limited trading.

The general index lost0.81% or 36.3 points and closed at 4,469.8 points. Traded volume increased to 101.33 million shares from 64.88 million on Sunday, while turnover grew to AED 174.88 million from AED 94.04 million the day before.

The oil price decline which resumed once more and profit-taking in neighbouring markets as well as the ongoing fluctuations in global markets contributed to the ADX’s decline on Monday, market analyst Mohamed Al-Kaaby told Mubasher.

He noted that traded value and volume improved today compared to Sunday as most traders focused on selling medium and large stocks.

UAE market indices have given a negative signal from a technical perspective, a sign that the ADX may retreat to the level of 4,515 points on Tuesday, Al-Kaaby told Mubasher, adding that liquidity levels on the ADX remain weak.

The energy sector led fallers, sliding 4.1% after Dana Gas dropped 5.26%, while the real estate sector lost 2.5% on the back of Aldar Properties and Eshraq Properties, which were down 2.6% and 1.9%, respectively.

The banking sector shed 1.01% after six of its stocks were in the red, led by Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Commercial Bank (ADCB) which fell 3.51% and 3.1%, respectively.

The ADX ended Sunday on a low note of 0.82%.

Translated by: Nada Adel Sobhi