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Eshraq’s stock acquires 50% of Abu Dhabi’s liquidity

Eshraq’s stock acquires 50% of Abu Dhabi’s liquidity
The stock is witnessing strong speculative purchases (Photo Credit: Arabianeye-Reuters)
Eshraq
ESHRAQ
-0.70% 0.28 -0.00

Abu Dhabi – Mubasher: Eshraq Properties’ stock accounted for 50% of Abu Dhabi Securities Exchange's (ADX) liquidity by 1:28pm UAE time.

The stock generated AED 86.13 million a few minutes before the closure, while the market’s turnover amounted to AED 172.52 million.

Eshraq was the most active stock after generating 74.28 million shares, representing 66.2% of the market’s trading volume.

Although Eshraq posted annual losses, there is a positive outlook for the company’s financial position which may improve on the back of continuous projects and expansion plans, a technical market analyst Salman Khallaf told Mubasher.

The stock is witnessing strong speculative purchases, and targets to reach AED 1.2-1.3, Khallaf added.