The Abu Dhabi Securities Exchange’s (ADX) general index gained 23.62 points, or 0.52%, to close at 4,542.74 points on Thursday on the back of real estate and banks sectors.
The ADX’s trading volume soared to 82.69 million shares from 35.09 million on Wednesday, while the market’s liquidity surged to AED 229.471 million versus AED 82.37 million in the previous session.
The real estate sector jumped 3.29% after Aldar Properties went up 4.65%, while the banks sector grew 0.84%, as First Abu Dhabi Bank (FAB) added 0.92%.
The consumer staples sector levelled up 1.36% after Agthia rose 2.17%.
On the other hand, the energy sector shed 1.05% after Dana Gas lost 1.32%, while the telecommunication sector and its only stock, Etisalat, went down 0.84% each.
Aldar Properties topped the ADX in terms of both liquidity and volume, with 23.68 million traded shares, generating AED 52.6 million.
The liquidity in the market is still low regardless of the companies’ dividends and the strong national economy, the director general of Al Ansari Financial Services Eyad Al Bariqi told Mubasher.
Investors became more aware that global markets’ negative performance should not cancel the positive results of the UAE economy, which is the main pillar when it comes to trading in the Emirati stock markets, Al Bariqi added.