The Abu Dhabi Securities Exchange (ADX) ended Sunday in the green, supported by strong buying on the real estate sector, which coincided with retreating banking, telecom and energy sectors. The market inched up by 0.12%, adding 6.14 points to 4963.93 points.

Commenting on the market’s performance today, Think for Financial Services CEO Fady Al Ghatis told Mubasher that trading was week to a great extent; however the positive thing about today’s trades was that investors focused on many stocks not the leading ones only. Moreover, the consecutive initial public offerings (IPOs) that were launched in the markets recently have withdrawn much of the markets’ liquidity, creating strong pressure.

Around 154.53 million shares were traded at a turnover of AED 304 million through 2306 transactions.

Market performance was supported by the real estate sector which gained 2.13%, ranking second top gainer, as Aldar Properties and Eshraq Properties leapt by 2.15% and 2.61%, respectively.

Trading was centred on the real estate sector today, particularly Eshraq’s share, following positive news on the stock, Al Ghatis highlighted.

The industrial sector rose by 2.69% as Abu Dhabi Ship Building (ADSB) leapt by 8.8%, while Bildco surged by 4.30%.

The market’s gains were cut by a retreating banking sector, which lost 0.11% as Abu Dhabi Commercial Bank (ADCB), First Gulf Bank (FGB) and Abu Dhabi Islamic Bank (ADIB) fell .066%, 0.52% and 0.47%, respectively. The telecom sector lost 0.43% as Etisalat retreated by the same percentage.

Finally the energy sector dropped 0.41% as Dana Gas declined by 1.54%, whereas TAQA grew by 2.08%.

The market continues to be in a lateral collective trend, Al Ghatis said, adding that he expects the market to fall back to the support level of 4870 points. Should the market fall below that level it will retreat to 4780 points, and then to lower and more dangerous levels, he added, noting that should the market rebound, it will rise to 4980 points then to 5000 points.