By: Enas Bahgat

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index rose 0.5% or 21.33 points to close at 4,310.19 points on Tuesday, breaking the declining trend seen in the previous sessions.

Investor morale has recovered after a wave of declines, as some stocks reached relatively attractive prices, vice president of Investment Research at KAMCO Raed Diab told Mubasher.

No one can deny that the geopolitical situation in the GCC may affect the market in the coming period, which would give rise to fluctuations, Diab added.

The telecommunications sector and its only stock Etisalat grew 1.24% each.

The banks sector went up 0.51%, led by Abu Dhabi Commercial Bank (ADCB), which levelled up 2.12%, while First Abu Dhabi Bank (FAB) added 0.49%.

On the other hand, the real estate sector shed 0.97% after Aldar Properties lost 1.34%.

The general index may witness some attempts to rise in the coming period as part of a correction after seen selling pressure on Tuesday, Diab continued, noting that that the index will see resistance at 4,320 and 4,350 points.

If the general index continues to decline, it may target support at 4,240 and 4,200 points, the analyst added.

FAB was the most actively-traded stock in terms of both volume and value, with 6.3 million traded shares and a turnover of AED 64.1 million through 168 transactions.

Meanwhile, the ADX’s trading volume rose to 59.1 million shares from 31.3 million shares on Tuesday, while the market’s turnover surged to AED 186.5 million through 709 transactions, compared to AED 103.9 million in the previous session.

Translated by: Muhammad Khalid