AD Ports, ADIB and TAQA rise as ADX index slide continues

A. SREENIVASA REDDY (ABU DHABI)

The Abu Dhabi Securities Exchange’s (ADX) general index continued its slide for the fourth day in a row, even as the Dubai Financial Market’s (DFM) main index reversed the trend to post marginal gains.

The slump in markets was blamed on hawkish comments from US Federal Reserve officials, who suggested that interest rates may remain unchanged in the December review.

AD Ports (+3.63 %), Abu Dhabi Islamic Bank (ADIB) (+3.59 %) and TAQA (+3.55 %) were among the major stocks that gained on Monday. Alpha Dhabi (–2.35 %), Abu Dhabi Commercial Bank (ADCB) (–1.46 %), ADNOC Gas (–0.59 %) and Aldar (–0.58 %) were among the blue-chips that declined, contributing to the drop in the main index.

The ADX General Index (FADGI) fell 0.065 % to close at 9,911.44. A total of 20,799 trades were executed, involving 314 million shares with a combined value of Dh 1.784 billion. The total market capitalisation of all companies listed on the ADX stood at Dh 3.060 trillion.

The Dubai Financial Market’s (DFM) General Index (DFMGI) rose 0.134 % to close at 5,957.49. A total of 17,794 trades were executed, involving 451 million shares with a combined value of Dh 668 million. Share prices of 17 companies rose, 27 declined and eight remained unchanged.

Emirates NBD (+1.17 %), Talabat (+3.82 %) and Salik (+1.67 %) were among the prominent gainers on Monday in a volatile market, while property heavyweight Emaar lost 2.17 %.