By: Bedour Al Raee

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index rose 0.75%, or 34.28 points, to 4,591.11 points over the week ended 18 January.

The real estate sector jumped 2.74% after Aldar Properties soared 3.11%, as Eshraq properties grew 1.3%.

The banks sector increased by 1.22% after First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB) went up 2.26% and 0.41%, respectively.  

The energy sector levelled up 0.41%, as ADNOC Distribution went up 1.15%.

On the other hand, the telecommunication sector and its only stock Etisalat shed 0.56%.

The ADX’s trading volume dropped to 341.444 million shares from 494.461 million in the previous week, while the market’s liquidity declined to AED 821.244 million, compared to AED 882.174 million a week earlier.

In the beginning of the week, the UAE’s markets were pushed up by the positive disclosures of some listed banks, Al-Sharhan Centre General Manager, Gamal Agag, told Mubasher.

The reported net profits in the fourth quarter of 2017 may reflect positively on the annual dividends, Agag added.

However, the stocks’ prices were not affected by the positive news and increased in the beginning, to tumble later on the back of the selling pressure, he noted.

The UAE's markets achieved positive results after the banks' positive financial results, but their effects were not as expected, Agag concluded.

Translated by: Muhammad Khalid