Abu Dhabi – Mubasher: The UAE’s twin bourses commenced Sunday in the red, dragged lower primarily by blue-chip stocks.

The Abu Dhabi Securities Exchange’s (ADX) general index dropped 0.99% or 49.38 points to 4,939.36 points on Sunday, weighed by the energy, banks, and real estate sectors.

By 11:00 am UAE time, the real estate sector dipped 2.79% after Aldar Properties fell 2.89%

The banks sector plunged 1.01% after First Abu Dhabi Bank (FAB) and Abu Dhabi Islamic Bank (ADIB) lost 1.41% and 1.38%, respectively, while the telecommunications sector and its sole stock Etisalat dropped 0.60%

The energy sector retreated 1.79%, pressured by TAQA, which declined by 2.63%.

Likewise, Dubai Financial Market (DFM) suffered losses in blue chips at the opening of Sunday’s session, as the general index lost 0.68% or 18.57 points to 2,738.97 points.

The banks sector dropped 0.97%, pushed down by Dubai Islamic Bank’s (DIB) 2.09% fall, while the real estate sector shed 0.63% after Arabtec Holding retreated 2.16%.

The transportation sector fell 0.59% after Aramex dropped 1%

On the other hand, the services sector rose 0.27%, supported by Tabreed’s 0.59% increase.