The Abu Dhabi Securities Exchange’s (ADX) general index added 0.56%, or 25.5 points, to close at 4,609.91 points on Monday on the back of the energy and the real estate sectors.
The ADX’s trading volume increased to 90 million shares from 61.7 million on Sunday, while the market’s liquidity surged to AED 150.48 million versus AED 123.85 million in the previous session.
The UAE’s markets are seeing a confusing and unreasonable declining trend in a time, which should have been filled with growth in prices, indices, and liquidity, Al-Sharhan Centre’s general manager Gamal Agag told Mubasher.
The instability of global markets had a negative impact on investors’ morale, an impact that was not mitigated by the positive disclosures, Agag added.
The dividends scheduled for distribution in the coming period will boost the markets’ liquidity and, probably, save the day, the analyst commented.
The energy sector gained 2.9% after TAQA soared 11.86%, while ADNOC Distribution and Dana Gas levelled up 2.27% and 1.35%, respectively.
The real estate sector went up 1.46% after RAK Properties surged 3.85%, while Aldar Properties rose 1.35%.
The banks sector grew 0.72%, as Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Commercial Bank (ADCB) upped 2.48% and 1.39%, respectively.
On the other hand, the telecommunication sector and its only stock Etisalat shed 0.29% each.
ADCB was the most actively-traded stock on the ADX in terms of liquidity, with a turnover of AED 25.18 million, while TAQA topped the market in terms of volume, with 25 million traded shares.