By: Mahmoud Gamal

Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) declined on Sunday on blue chips, led by the energy and real estate sectors.

The general index dropped 0.64%, or 28.94 points, closing at 4489.20 points.

The main reasons behind the return to a decline are the fall of global markets, the psychological impact and bearish outlook of geopolitical events, and profit-taking in neighbouring markets, capital market analyst Mohammed Al Kaabi stated.

Trading volumes increased to 67.44 million shares on Sunday compared to 53.94 million shares on Thursday, while values ​​reached AED 125.15 million compared to AED 107.41 million.

The increase in trading volume confirms that buying is focused on heavy and medium stocks, Al Kaabi noted, adding that liquidity levels are still weak.

The energy sector dropped 3.8% as Dana Gas fell 4.44%, while real estate went down 2.76%, after Eshraq and Aldar dropped 3.45% and 2.7%, respectively.

The telecoms sector fell 2.48% as Etisalat dropped 2.48%.

On the other hand, the banks sector recorded a rise of 0.63%, with Commercial Bank International (CBI) and National Bank of Abu Dhabi (NBAD) gaining 12.2% and 0.9%, respectively.

Translated by Mohamed Nabil