By: Bedour Al Ra’ee
Abu Dhabi – Mubasher: The benchmark index of Abu Dhabi Securities Exchange (ADX) levelled up by 0.37% or 16.63 points to close at 4,455.80 points on Monday, posting the second rise in a row amid weak trading activity.
Liquidity shrank to AED 97.1 million from AED 113.45 million, as trading volume decreased to 71.97 million shares from 125.9 million in the previous session.
The UAE markets were endorsed by the budget recently approved by the UAE and Saudi Arabia, CEO of Think Financial Studies (TFS), Fadi El Ghattis, said.
He noted that raising the US interest rate affects the GCC region; thus, a pressure will be formed to affect the financials by the end of 2016.
El Ghattis expected the market to see lower liquidity as the end of the year approaches, while some portfolios tend to perform liquidation.
ADX’s banks segment gained 0.54%, as Abu Dhabi Commercial Bank rose by 1.6%.
Meanwhile, the real estate sector retreated by 0.17%, dragged by Aldar which dropped 0.4%.
Eshraq recorded the highest trading value that reached AED 21.45 million after 20.74 million shares were traded. The stock levelled up by 1%.
Translated by: Ingy ElSafy
