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ADX closes Monday in red; market cap loses AED 17.6bn

ADX closes Monday in red; market cap loses AED 17.6bn
Dana Gas dropped by 5.26%

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) ended Monday’s trading session in the negative territory, on the back of geopolitical concerns as four ships had been sabotaged off the coast of the UAE.

The general index fell by 3.32% to finish the session at 4,929.22 points.

Market capitalisation lost AED 17.686 billion to AED 499.422 billion on Monday, compared to AED 517.108 billion on Sunday.

The ADX’s trading volume reached 62.394 million shares exchanged with a turnover of AED 187.947 million through 2,407 transactions.

The telecommunications sector and its sole stock, Etisalat, slid 5.71% each.

Similarly, the energy sector retreated 3.71% after Dana Gas dropped by 5.26%.

Additionally, the banks sector plunged by 3.05% as First Abu Dhabi Bank (FAB), Abu Dhabi Islamic Bank (ADIB), and Abu Dhabi Commercial Bank (ADCB) decreased by 1.28%, 5.92%, and 4.62%, respectively.

The real estate sector went down 0.66%, pressured by Manazel Real Estate’s 5.7% drop.