Abu Dhabi – Mubasher: The general index of the Abu Dhabi Securities Exchange (ADX) went down 189.78 points, or 3.62%, to 5,052.8 points in a week, dragged down by the real estate, telecommunications, and banking sectors.
Market capitalisation lost AED 19.78 billion over the week to reach AED 512.799 billion.
Profit taking, the instability in the global market, and geopolitical tensions have weighed on the UAE markets, vice president of Investment Research at KAMCO Raed Diab told Mubasher.
Emirati markets are set to see more fluctuations in the coming period until the emergence of some positive signs, the analyst added.
The real estate sector shed 7.11% after Aldar Properties lost 7.18%, while the banking sector went down 3.46%, as First Abu Dhabi Bank (FAB) retreated 2.5%.
The telecommunication sector and its only stock, Etisalat, lost 5.26% each.
On the other hand, the energy sector grew 2.24% after Dana Gas added 1.58%.
