By: Bedour Al Raee

Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange’s (ADX) general index rose 15.64 points, or 0.35%, to 4,527.1 points in the week ended 15 March on the back of the real estate sector.

The ADX’s trading volume grew to 314.78 million shares from 298.04 million shares in the previous week, while the market’s liquidity increased to AED 861.47 million from AED 842.25 million a week earlier.

The real estate sector surged 3.02% after Aldar Properties and Eshraq Properties soared 4.17% and 4.11%, respectively.

The consumer staples jumped 12.71%, as Agthia skyrocketed 22.08%.

Over the week, the banks sector grew 0.6% after First Abu Dhabi Bank (FAB) gained 0.92%.

By contrast, the energy sector tumbled 2.39%, as ADNOC Distribution dropped 4.14%.

The telecommunication sector and its only stock, Etisalat, sank 0.56%.

The circulated news of some companies caused a selective buying trend on a group of stocks, which in return pushed them up, the financial analyst at Mena Corp Issam Kassabieh told Mubasher.

The liquidity in the market is still low despite the companies’ dividends and the strong national economy, the director general of Al Ansari Financial Services Eyad Al Bariqi commented.

Investors became more aware that global markets’ negative performance should not offset the positive results of the UAE economy, which is the main pillar when it comes to trading in the Emirati stock markets, Al Bariqi added.

Translated by: Muhammad Khalid