Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index increased by 32.47 points, or 0.73%, to close at 4,458.33 points on Monday, encouraged by the telecommunication sector and the new foreign ownership regulation.

Earlier on Monday, the UAE Cabinet announced a new long-term visa to some international investors and talented professionals, allowing 100% foreign ownership in companies.

The ADX’s trading volume reached 96.3 million shares, while the market’s liquidity hit AED 184 million.

The telecommunication sector and its only stock, Etisalat, rose 0.94% each, while the banks sector added around 0.77%, as Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) went up 1.64% and 0.44%, respectively.

The energy sector grew 0.72% after Taqa and Dana Gas gained 1.67% and 0.94%, respectively.

The real estate sector advanced 0.13%, as RAK Properties added 1.54%.

On the other hand, the consumer staples sector shed 0.76%.

Aldar Properties led the ADX in terms of trading value, with a turnover of AED 34.27 million.

Source: Mubasher Exclusive

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