ADX extends green performance on blue chips

May 28, 2015 6:54 AM

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Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed in the green, continuing its positive performance on Tuesday for the third session in a row, backed by gains in the real estate and banking sectors.

The general index grew 0.62% or 28.42 points and closed at 4,589.78 points. Traded volume increased, reaching 84.77 million shares against 41.7 million on Monday, whereas turnover declined 2.5% to AED 152.78 million against 156.722 million.

The real estate sector surged 1.78% as Aldar, Manazel Real Estate and RAK Properties gained 1.52%, 1.67% and 1.54%, respectively.The banking sector added 0.81% as the National Bank of Abu Dhabi (NBAD), Abu Dhabi Islamic Bank (ADIB) and First Gulf Bank (FGB) rose 2.8%, 1.4% and 0.99%, respectively.

The banking sector was the most active in terms of turnover reaching AED 71 million as FGB traded for AED 46.8 million with 3.08 million shares exchanged.

The consumer staples sector was the biggest faller, losing 0.81% as Agthia fell 0.93%.

It is likely that UAE markets will see declines in the coming period especially in the absence of actual market-boosting catalysts, even though prices are attractive, said market analyst Waddah Taha, adding that such declines are mainly due to the weak liquidity.


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