ADX drops in week in line with neighbours

ADX drops in week in line with neighbours
The ADX general index retreated 2.15%

Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index dropped in the week ended Thursday, 9 November, affected by neighbouring GCC markets following the wave of arrests carried out by the Saudi government as part of its anti-corruption probe.

The ADX general index retreated 2.15% or 96.06 points to close the week at 4,369.06 points.

Leading stocks were the among the top fallers, topped by Aldar Properties with 4.3% to AED 2.24 amid investors’ anticipation for the company’s quarterly results.

It is worth mentioning that the disclosure period will end on 15 November.

Etisalat’s stock was among the decliners, sliding 3.4% to reach AED 17.20, while Dana Gas decreased 2.7% to AED 0.73, as traders await more news regarding the company’s sukuk issue.

Similarly, the leading stock First Abu Dhabi Bank (FAB) went down by 1.46% to AED 10.15.

Throughout the week, traded volume grew to 381.98 million shares from 209.097 million the week before while traded value rose to AED 715.17 million from AED 597.09 million.