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ADX suffers higher losses Monday

ADX suffers higher losses Monday
The investment sector topped gainers (Photo credit: Arabianeye - Reuters)

By: Mahmoud Gamal

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a bullish performance on Monday, dragged down by the continuous profit-taking on blue chips.

The benchmark index declined 0.88% or 41.2 points to reach 4,657.57 points.

The general index was weighed down by selling pressures on blue chips especially in the banks and telecom sectors, capital market analyst Gamal Abdel Hamid said.

Investors should focus on stocks which reached attractive price levels in the coming period, Abdel Hamid added.

The investment sector topped losers with a 4.34% decrease after Waha Capital levelled down 4.6%.

The energy sector sank 1.8% after TAQA and Dana Gas declined 1.85% and 1.75% respectively.

The telecom sector retreated 1.34% due to a decrease in Etisalat by 1.34%.

The real estate sector sank 1.28% after Eshraq Properties and Aldar Properties slid 1.64% and 0.74% respectively.

The general index is expected to rebound to 4,704.96-4,846 points on Tuesday, the analyst concluded.

Translated by: Julian Nabil