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Blue chips push down ADX in November; Market cap loses AED 7.8bn

Blue chips push down ADX in November; Market cap loses AED 7.8bn
The real estate sector dropped 7.69%

Abu Dhabi – Mubasher: The general index of the Abu Dhabi Securities Exchange (ADX) went down by 78.2 points, or 1.53%, to 5,030.75 points in November, dragged down by blue chips.

Market capitalisation declined by AED 7.86 billion to AED 513.93 billion over the month, compared to AED 521.79 billion in the previous month.

The real estate sector dropped 7.69%, while the banking and telecom energy shed 1.35% and 1.92%, respectively. The energy sector plunged 12.99%.

Taqa sank 13.43%, Aldar Properties plummeted 7.2%, and Abu Dhabi Islamic Bank levelled down by 3.75%.

First Abu Dhabi Bank, Etisalat, and Abu Dhabi Commercial Bank fell 2.94%, 1.81%, and 1.03%, respectively.

On the other hand, Adnoc Distribution surged 3.42% and Dana Gas added 1.3% in November.