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Banks boost ADX in January’s 3rd week

Banks boost ADX in January’s 3rd week
Dana Gas gained 2.45%

Abu Dhabi – Mubasher: The general index of the Abu Dhabi Securities Exchange (ADX) increased by 103.44 points, or 2.03%, to 5,179.12 points in the week ended 16 January 2020, pushed up by the banking sector which added 2.27%.

Market capitalisation went up to AED 533.61 billion over the week, compared to AED 522.19 billion in the previous week.

The real estate and energy sector grew by 3.84% and 3.56%, respectively, while the telecom sector rose by 0.6%.

Aldar Properties, Taqa, and Adnoc Distribution surged 7.66%, 6.68%, and 5.8%, respectively. Abu Dhabi Islamic Bank and Abu Dhabi Commercial Bank increased by 4.14% and 3.98%, respectively.

First Abu Dhabi Bank added 3.47%, Dana Gas gained 2.45%, and Etisalat rose by 1.59%.