By: Enas Bahgat
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index gained 17.14 points, or 0.34%, to close at 5020.52 points on Tuesday, boosted by the industry and energy sectors.
The real estate sector rose 0.93% after Aldar Properties added 1.17%.
The ADX’s trading volume amounted to 21.39 million shares exchanged at a turnover of AED 81.59 million through 745 transactions.
The energy sector rose 0.48% after Dana Gas and ADNOC grew 0.87% and 0.43%, respectively.
Buoyed by its sole stock, Etisalat, the telecommunication sector rose 0.36%.
Raed Diab, vice president of investment research at KAMCO Research, told Mubasher on Tuesday that the ADX still sees a positive performance and is able to sustain stability as oil prices continue their upward trajectory.
The financial results of the third quarter of 2018 are expected to improve the market’s performance, he added.
From a technical perspective, Diab pointed out that if the general index breaks resistance at 5,070 points, it will hover over 5,255 points, the highest level the ADX has ever reached since 2014.
Translated by: Dunya Hassanin
