By: Bedour Al Raee
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index lost 0.9%, or 41.09 points, to close at 4,540.85 points on Tuesday on the back of the global markets’ drop.
The ADX’s trading volume soared to 160.52 million shares from 34.78 million on Monday, while the market’s liquidity more than doubled to AED 208.5 million, compared to AED 98.67 million in the previous session.
Dana Gas was the most actively-traded stock on the ADX in terms of both volume and value after 62 million shares changed hands at a turnover of AED 44.74 million.
The real estate sector topped the ADX’s losers, dragged down by Aldar Properties and Eshraq Properties, which dropped 3.08% and 2.67%, respectively.
The energy sector went down 1.71%, as Dana Gas, TAQA, and ADNOC Distribution declined 1.32%, 1.82%, and 2.26%, respectively.
The telecommunications sector and its only stock Etisalat sank 1.43% each.
The banks sector levelled down 0.45%, as Abu Dhabi Commercial Bank (ADCB) decreased by 1.8%.
The consumer staples sector went down 0.45%, after International Holding retreated 2.08%.
The global markets’ negative performance, especially S&P 500 Index and Dow Jones Industrial Average, has weighed on the ADX on Tuesday, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
The global markets may maintain their negative impact on the ADX, causing selling pressure in the market, but investors can restore their morale and optimism based on the UAE’s strong economy and the positive disclosures, the analyst concluded.
Translated by: Muhammad Khalid
