Etisalat’s stock drags ADX down Tuesday

Etisalat’s stock drags ADX down Tuesday
The ADX’s trading volume shrank to 57.7 million shares

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index inched down 0.07% or 3.18 points to close at 4,366.41 points, weighed down by the telecommunications sector and its only stock Etisalat which shed 0.88% each.

The real estate sector sank 0.57% after RAK Properties and Aldar Properties declined by 1.43% and 0.88%, respectively.

On the other hand, the banks sector went up 0.64% after Union National Bank (UNB), First Abu Dhabi Bank (FAB), and Abu Dhabi Islamic Bank (ADIB) gained 1.49%, 0.99%, and 0.81%, respectively. 

The ADX’s trading volume shrank to 57.7 million shares from 63.9 million shares on Monday, while the market’s turnover dropped to AED 124.1 million through 1,198 transactions, compared to AED 130.7 million in the previous session.

Eshraq Properties was the most actively-traded stock on the ADX in terms of volume, with 18.2 million shares, while Etisalat headed the market in terms of liquidity, with a turnover of AED 37.7 million shares through 351 transactions.   

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Source: Mubasher

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