ADX Rebounds; Tuesday

By Yomna Yasser On Apr 3, 2012

The Abu Dhabi Stock Exchange (ADX) rebounded 0.14% Tuesday, reaching 2.563.57, as the real estate and investment sector edged up in particular.

Sorouh Real Estate was the most liquid share (3.50% higher at Dhs 1.20 ($0.33)), and reached the same price like Aldar Properties (up 0.85% at Dhs 1.20 ($0.33)). Both developers entered into merger talks in mid-March 2012.

International Fish Farm Holding or Asmak (Arabic for fish) gained the most, closing 9.75% higher at Dhs 13.55 ($3.69).

Asmak has increased more than fourfold in value as the fish farming and agriculture firm is massively expanding in the Middle East and India, contributing to reduce the region’s dependence on food imports from imports.

The GCC currently imports nine tenths of its food needs from abroad. Around 66 million ADX-listed shares were traded, valued at Dhs 88 million ($23.98 million). This was reported by AMEinfo.com.