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ADX falls in week as blue chips slide

ADX falls in week as blue chips slide
The real estate sector dropped 2.03%

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed the week ended Wednesday on a negative note, pressured by its falling blue chips.

The general index lost 0.38% or 17.08 points to 4,455.09 points. Turnover amounted to AED 609.03 million ($165.84 million) after 463.3 million shares changed hands.

The real estate sector dropped 2.03% in the four-session week, weighed by Aldar Properties and Manazel, which shed 0.86% and 3.70%, respectively.

The energy sector declined 3.43% after Dana Gas slid 6.02% over the week, as sukuk holders claimed the company had conspired against them in the sukuk case. Last month, Dana Gas said it had discovered that its $700 million sukuk were not Shariah-compliant.

The telecom sector and its stock Etisalat decreased 0.84%.

The UAE bourses are closed on Thursday on the occasion of the New Hijri Year. Trading will resume on Sunday, 24 September.