The Abu Dhabi Securities Exchange (ADX) ended Tuesday at a slight decline by 0.01% or 0.43 pts to 4949.83 pts as 102 million shares traded at a turnover of 203.5 million through 1488 transactions.
A total of 31 companies traded today, of which 11 were in the green, 15 were in the red and five stabilised at previous levels.
Sharjah Cement and Industrial Development Company (SCIDC) topped gainers, adding 9.73%, whereas National Marine Dredging Company (NMDC) topped decliners, falling 9.80%. Ras Al Khaimah Poultry and Feeding Company (RAPCO) came in as second loser, dropping 9.29% following an announcement that its Board will convene on November 8.
Profit-taking took place as analysts had predicted. Capital market expert and analyst Nasser Aref had said that a state of anticipation has gripped investors in the UAE markets, prompting them to quick profit-taking for fear of incurring losses.
The services sector topped decliners, falling 3.27% owing to NMDC’s 9.80% drop, added to the National Corporation for Tourism and Hotels, which fell 7.69%. The investment and real estate sectors followed, shedding 1.08% and 1.07%, respectively. RAK Properties and Aldar Properties fell 1.23% and 1.20%, respectively, prompting the real estate sector’s decline. On the other hand, the banking sector added 0.30% supported by the National Bank of Abu Dhabi (NBAD) and RAK Bank added 1.45% and 1.03%, respectively.