Abu Dhabi Securities Exchange index (ADX) saw similar declines, which the ADX losing 0.7 per cent to close at 4986.09, and declines in all subindices except the services sector, which gained 0.9 per cent.
"It's an expected correction," he said. "This is what's happening, especially to the leading companies. There's a big amount of liquidity going to
"The ADX, in spite of breaking 5.000, still has very positive signals. It has an up target of 5,442, maybe within four months. It didn't go down strongly, less than 1 per cent."
But all the other markets highest traded shared by value declines. Emaar lost 1.91 per cent to close at Dh10.25;
All the DFM subindices that recorded trades declined save for the telecoms sector, which gained 1.35 per cent.
Eshraq, which saw trades worth Dh93 million, lost 0.03 per cent to close at Dh1.78.
He believed the firm was performing better than its first quarter profits indicated, as it has invested a considerable portion of its first-quarter revenues in potentially profitable acquisitions, and it had made good profit on the sale of
"I expect very good results in the second quarter," he said.
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