By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index grew 58.96 points, or 1.3%, to close at 4,585.57 points on Wednesday, pushed up by the banks and energy sectors.
The ADX’s trading volume reached 41.46 million shares, while the market’s turnover hit AED 143.437 million.
The banks sector surged 2.96% after First Abu Dhabi Bank (FAB) jumped 4.26% and Abu Dhabi Commercial Bank (ADCB) added 2.17%.
The energy sector edged up 0.09%, as Dana Gas rose 0.93%.
FAB topped the ADX in terms of both trading volume and value, with 4.84 million traded shares and a turnover of AED 58.53 million.
On the other hand, the investment sector decreased by 2.04%, while the real estate sector sank 1.17%, as Aldar Properties and Eshraq Properties fell 1.42% and 1.35%, respectively.
The ADX grew on the back of the recent government decisions on foreign shareholding, which enable foreign investors to acquire up to 100% stakes in UAE-based companies, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
Leading sectors, especially banks, have boosted the ADX following their positive results for the first quarter of 2018.
Translated by: Muhammad Khalid
