First Gulf Bank led gainers on the Abu Dhabi Securities Exchange, which extended its winning streak to two sessions yesterday. The ADX climbed 1.81 per cent to 5,043 points, which is the capital's best one-day showing since mid-April.

First Gulf Bank jumped 4.49 per cent to Dh27.90, an all time high. Its rival National Bank of Abu Dhabi toiled in comparison, dropping 0.95 per cent, but Aldar and eitsalat climbed 1.2 and 1.53 per cent respectively. While the blue chips may have mostly flourished, the mega gains were reserved for Abu Dhabi's small cap stocks.

Once again, speculators are the likely the suspects as Methaq climbed a near-maximum 9.94 per cent, while four other companies also gained more than 9.5 per cent, including National Bank of Fujairah and United Arab Bank.

Rak Cement was the top trader, but it closed flat, followed by Dana Gas, which surged 4.2 per cent, and Aldar, Aabar and Sorouh, with this trio seeing a combined 95 million shares change hands.

Aldar and Sorouh added 1.2 and 3.13 per cent respectively as the latter clawed back its losses of the previous week. Aldar is also building momentum after falling almost seven per cent in eight days.

Gainers outnumbered losers 29:13, while turnover was Dh1.8 billion.

Abu Dhabi broke through the psychologically important 5,000-point barrier for the first time in six sessions and should now advance further, technical analysts said.

"The ADX can reach 5,136 points and is looking stronger than the Dubai index," said Amjad Bakir, Mac Sharaf Securities trading manager.

He highlighted a number of stocks to watch out for, including Aldar Properties, which closed on Dh12.70 yesterday. "Aldar's first challenge will be overcome Dh13.20 and from then it should hit a record close of Dh14," said Bakir. "Aldar could hit Dh17 in the next three to six months."

Rak Properties should also flourish and faces three resistance points on its way to Dh2.40, having closed on Dh2.10 yesterday.

Dana Gas could hit Dh2.30 in the near term, Bakir predicted, while Arkan and Aabar also look bullish.


DP World falls again

DP World fell for the second day running to take its losses this week to 3.4 per cent.

The ports operator slipped 1.16 per cent to $0.85 yesterday, despite 5.96 million shares changing hands. Yesterday's is the lowest close since April 14. Depa is also struggling and fell 1.41 per cent to $1.40 after just 117,400 shares were traded, while Kingdom Hotels closed unchanged, despite enjoying a rare transaction.


Obscure stocks

The ongoing speculation in Abu Dhabi's more obscure stocks would not be a problem providing this is kept under control, according to Shehab Gargash, Daman Investments managing director.

"The problem is people are greedy, so when they see it happen with one share, they try to replicate it in other stocks and continue to do so until its unsustainable and that's when it all collapses," said Gargash.