By: Mahmoud Gamal
Abu Dhabi-Mubasher: First Gulf Bank (FGB), Aldar Properties and Etisalat accounted for 74% of Abu Dhabi bourse’s liquidity.
FGB was the value leader with a turnover of AED 16.03 million, representing 48% of the market’s liquidity. The stock fell 0.4% after trading 4.9 million shares through 94 transactions.
Some portfolio investors are switching between blue chips before the announcement of first-half financials to make use of low-priced stocks, according to technical analyst Mohamed Al-Azmi.
Aldar, which added 1.12%, generated AED 16.05 million, accounted for 12.3% of the market’s turnover.
Etisalat fell 0.53% to AED 18.85 and accounted for 9.6% of the market’s liquidity after generating AED 12.56 million.
Abu Dhabi bourse still have positive catalysts like the merger of National Bank of Abu Dhabi (NBAD) and FGB which will positively affect the trading activity.
Translated by: Julian Nabil
