By: Bedour Al Raee
Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a negative performance this week, for the second week in a row.
Abu Dhabi General Index (ADI) lost 0.59% or 26.17 points and closed at the level of 4436.82 points.
The market saw negative performance for the second week in a row for the absence of real stimuli, Eyad Al Bariqi, Trading Director of Al Ansari Financial Services, told Mubasher.
Total turnover decreased to AED 464.72 million compared to AED 847.17 million last week, while traded volumes declined to 243.71 million shares from 586.08 million shares in the previous week.
The analyst added that low turnover nowadays indicates the lack of selling strength in the markets and that the investors preserve their purchasing positions.
Al Bariqi advised investors to be patient in making decisions till clear turnover enters the marker and for the index to tend to an upward trend.
The real estate sector fell 2.03%, affected by Eshraq Properties which went down 1.94%.
The telecom sector retreated 1.63% as Etisalat slipped.
The banks sector also shed 0.09%, weighted by Abu Dhabi Commercial Bank and National Bank of Abu Dhabi (NBAD) which lost 2.44% and 0.40%, respectively.
First Gulf Bank was the most active in terms of traded value with AED 76.11 million.
The analyst expected that the activity will return next week before the closure of 2016 statements.
Translated by: Sara Ghali
