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ADX turns to green zone on gains of telecom, real estate sectors

ADX turns to green zone on gains of telecom, real estate sectors
Traders at Abu Dhabi Securities Exchange (ADX)

Abu Dhabi-Mubasher: The Abu Dhabi Securities Exchange (ADX) shifted to the green zone by the end of Wednesday’s  trading session, amid the positive performance of both the real estate and telecommunication sectors.

The general index inched up 0.05% or 2.27 points to close at 4,509.62 points.

“The positive speculations over the stocks of both Aldar Properties and Etisalat pushed the market higher again today,” said Gamal Abdel-Hamid, technical analyst.

The market witnessed 27.62 million changed hands worth AED 91.58 million in Wednesday’s  trading session.

“The current weak trading volumes confirms that the investors abstain from any trading now amid the current global markets and oil prices fluctuations,” added Abdel-Hamid.

At the sectorial level, the real estate sector went up by 0.78% as the stock of Aldar Properties added 1.09%, while the telecom sector moved up by 0.25%.