By: Mahmoud Gamal
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) saw a positive performance in the week ended 12 January 2017, spurred by the rise of consumer staples, energy and banks sectors.
The general index rose 1.72% or 79.32 points to reach 4,681.28 points.
Turnover reached AED 1.727 billion this week, compared to AED 833.25 million last week. Trading volume stood at 1.259 billion shares, compared to 617.537 billion shares.
The consumer staples sector topped gainers with a 9.93% rise as Asmak climbed 53.91%. The energy sector also rose 4.9% as Dana Gas and TAQA went up 5.66% and 2.04% respectively.
The banks sector increased 2.24% after National Bank of Abu Dhabi (NBAD) and Abu Dhabi Islamic Bank (ADIB) climbed 3.90% and 2.63% respectively.
The real estate sector advanced1.47% after RAK Properties and Aldar Properties levelled up 12.12% and 0.37% respectively.
Local investors still await some catalysts in the coming period like annual financial announcements and dividends, Kifah Maharmeh, Managing Director of Al Dar Shares and Bond, told Mubasher.
Liquidity momentum witnessed since the beginning of this year is likely to continue, amid investments of institutional and foreign portfolio traders who are trying to make of low-prices local stocks, Maharmeh added.
Translated by: Julian Nabil
