On Monday, the Abu Dhabi Securities Exchange (ADX) general index closed in the negative territory amid a low trading activity as the market participants broadly remained on the sidelines. However, the market suffered a key support level, that could mean increased a volatility and more downside risks in the next days.
The stock market index finished at 2,648.24, decline 0.16 per cent, suffering the support level of 2,650. The overall value of the share transactions remained well just below Dh61 million. The investors were the net sellers on the market in most of the stocks, including the bluechip shares. About 46.93 million shares, cumulatively valued at around Dh60.85 million were sold. The gauge of the 27 company stocks which traded, only 6 gained, while 9 declined and 12 remained unchanged.
The stock of the Abu Dhabi’s real estate major Aldar Properties remained unchanged at Dh1.36 as investors booked gains. Around 5.37 million shares of the Aldar, cumulatively worth about Dh7.32 million changed hands on the market. The Sorouh Real Estate’s shares, also remianed unchanged at Dh1.32.
The top advancer on the Abu Dhabi market was the National Bank of the Umm AlQuwain, its shares ending 1.8 per cent higher at Dh1.70. The Abu Dhabi National Hotels was the day’s top decliner, its stock dropping 9.95 per cent to finish at Dh1.81. The shares of the telecommunications major etisalat were the most traded.