Etisalat Shares Prop up Abu Dhabi Index
ADX closed 0.7% higher, aided by expectations of foreign inflows, while the Dubai index fell 0.79%
Etisalat shares supported the Abu Dhabi index on Sunday, helped by expectations of foreign inflows after September 15 when the stock opens trading for foreigners. The Dubai index, however, ended lower in trade.
“Etisalat was able to push the Abu Dhabi market higher at the same when Dubai ended in negative terittory,” Sebastien Henin, head of asset management at The National Investor told Gulf News.
Etisalat shares jumped as much as 6.6 per cent in trade, before closing more than 3 per cent higher at Dh13.25. The stock may hit a low of Dh12.57 later this month, Osama Al Ashri, a member of British organisation, the Society of Technical Analysts, said. Details