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Abu Dhabi bourse falls the seventh session straight, hits four-month low

The ADX General Index declined 0.60% to close at 2,426.82 points as only two shares gained, while 19 fell in value (five stocks closed flat). Aldar Properties was the most liquid share and closed 2.90% lower at Dhs1.04. National Bank of Umm al-Qaiwain gained the most (up 5.86% at Dhs1.86). The ADX suffers from a sharp fall in oil prices. Abu Dhabi harbours some seven percent of the world's proven reserves of the 'black gold'. According to Dr. Nasser Saidi, Chief Econmist and Head of External Relations of the financial free zone DIFC, "Crude oil prices are the lowest since Oct 2011 as worries about weaker global demand led prices tumbling down while gold price rose as investors flocked to safe-haven assets."