By: Bedour El-Raie

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) ended 2018 with a positive performance, adding up to AED 38.66 billion in market capitalisation.

The main index hiked 11.75%, or 516.63 points, ending the year at 4,915.07 points.

Its market cap increased by AED 38.66 billion to AED 496.02 billion by the end of the full-year 2018, compared to AED 457.37 billion in 2017.

The ADX is expected to enjoy a positive performance in 2019 after reaching attractive levels compared to other global markets, analysts told Mubasher.

The banks sector topped the gainers adding 26.82% as First Abu Dhabi Bank (FAB) hiked 37.56%, while the energy sector surged 16.01% as Abu Dhabi National Energy “TAQA” soared 100% and Dana Gas gained 18.52%.

Similarly, the investment sector grew 5.01% on the back of Waha Capital’s 6.95% increase.

On the other hand, the real estate sector headed the decliners, falling 28.32% due to Eshraq Properties’ 35.21% drop, followed by the industrial sector with 20.50% as Ras Al Khaimah Ceramics retreated 32.59%.

The current year was too hard on UAE markets, against expectations in 2017, as bourses suffered drops in both trade volume and liquidity, Jamal Ajaj, general manager of Al Sherhan Stock Centre, told Mubasher.

He added that the banks sector managed to remain stable over the year, especially in the last nine months.

The ADX’s performance does not reflect the UAE’s current economic situation and its economic growth, Ajaj pointed out.

Translated by: Kholoud Mohamed Hussein