By: Mahmoud Gamal
Abu Dhabi – Mubasher: Abu Dhabi Securities Exchange’s (ADX) general index rose 35.1 points, or 0.77%, to close at 4,577.84 points at the end of the week, pushed up by the energy and banks sectors.
The energy sectors surged 8.24% after Dana Gas soared 12%, while TAQA jumped 6.9% to AED 0.77% and ADNOC Distribution gained 3.14%.
The banks sector added 1.04%, as First Abu Dhabi Bank (FAB) went up 3.64%.
The telecommunication sector and its only stock, Etisalat, increased by 0.28 each.
The ADX’s trading volume rose to 291.67 million shares from 233.29 million in the previous week, while the market’s liquidity declined to AED 573.82 million, compared to AED million a week earlier.
Over the week, the revealed expansions and major deals by the ADX-listed companies boosted the market, especially the AED 30 billion joint venture between Emaar Properties and Aldar Properties, market analyst Mohamed Tawfik commented.
Translated by: Muhammad Khalid
