Abu Dhabi Commercial
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Abu Dhabi Commercial Bank : Blue chips push ADX Thursday

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10/13/2017 | 04:57 am

By: Enas Bahgat

Abu Dhabi – Mubasher:The main index of the Abu Dhabi Securities Exchange (ADX) grew on Thursday, registering its fifth successive growth.

The main index went up 0.24% or 10.89 points to 4,525.88 points.

The positive results of the market will continue in the coming period, said vice president of Investment Research at KAMCO Raed Diab, referring to the disclosure of the companies’ financial results for the first nine months of 2017.

The real estate sector added 1.13% after RAK properties and Aldar Properties grew 1.39% and 1.25%, respectively.

The banks sector also went up 0.26% after RAK Bank jumped 4.65%, while Abu Dhabi Commercial Bank (ADCB) rose 1.23%.

The telecommunication sector and its stock Etisalat grew 0.28%.

The ADX’s trading value shrank to AED 134.69 million from AED 305.09 million on Wednesday, while trading volume fell to 85.34 million shares through 1,454 transactions, compared to 191.66 million shares.

Dana Gas acquired a large portion of the market’s trading volume with 18.8 million shares, while Etisalat led the market in terms of trading value, with a turnover of AED 26.6 million.

The Raising of oil rates to be stable at suitable levels reflected positively on the growth of the ADX’s main index on Thursday, Diab explained.

Translated by: Muhammad Abdulwakeel

Source : Mubasher Exclusive

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