Abu Dhabi index extends losses

Abu Dhabi index extends losses:

The Abu Dhabi index closed half a per cent lower due to continued weakness in heavy weights like First Abu Dhabi Bank and Etisalat. The Dubai index stabilised.

The Abu Dhabi Securities Exchange General index closed 0.4 per cent lower at 4,970.88. FAB closed nearly 1 per cent lower at Dh14.34. Etisalat closed 0.12 per cent higher at Dh16.94.

The Dubai Financial Market general index closed 0.24 per cent higher at 2,756.69. Arabtec shares closed 1.79 per cent higher at Dh2.27. “Traders may look to hold Arabtec with stop loss placed under the support at Dh2.14 level. The stock may gain strength towards the higher resistance at Dh2.35 in the near term,” Shiv Prakash, senior analyst with First Abu Dhabi Bank Securities, said in a note.