A.SREENIVASA REDDY (ABU DHABI)
The UAE stock markets reported gains amid escalating regional and global tensions.
The general index of the Abu Dhabi Securities Exchange (ADX) — FADGI – saw a rise of 0.051% to reach 9312.44.
It reported a total of 20,113 trades involving 326 million shares with a total value of Dh1.048 billion. The combined market capitalisation of all ADX listed companies reached Dh2.882 trillion, inching closer to Dh3 trillion mark.
The trading session saw share prices of 32 companies rise, while 35 companies experienced a decline. Additionally, 15 companies closed unchanged compared to their previous closing prices.
Palms Sports (+5.66%), Gulf Medical Projects Company (+5.4%), Abu Dhabi National Takaful (+4.25%), Alpha Dhabi Holding (+2.12) and Abu Dhabi Islamic Bank (+1.36) are among the prominent gainers while Phoenix Group(-9.93), Al Khaleej Investment (-9.91), Gulf Pharmaceutical Industries (-9.33) and Aldar (-2.34) are among the losers in the stock market on Tuesday.
ADX has celebrated the launch of a new index — FTSE ADX 15 Islamic Index (FADXI15) — in collaboration with FTSE Russell, a leading global provider of benchmarks, analytics, and data solutions. It is a subsidiary of the London Stock Exchange Group (LSEG). The latest index is the 16th stock market benchmark launched by the ADX.
In the Dubai Financial Market (DFM), the general index (DFMGI) was up by 1.024% to close at 4,583.36 points. The trading session witnessed 12,941 trades involving 247 million shares with a total value of Dh456 million.
The trading session saw prices of 27 companies rise, while nine companies experienced a decline. Additionally, 11 companies closed unchanged. The combined market capitalisation of all DFM listed companies reached Dh758 billion.
Amlak Finance (+11.87) and Deyaar (+5.93%) are among the top gainers while Emirates Reem Investments (-5.88%), Emirates REIT (-2.33%) and Union Coop (-2.17%) are among those who experienced declines.
Elsewhere in the region, Saudi Arabia's benchmark index (TASI) edged 0.1% higher, helped by a 1.4% rise in Al Rajhi Bank and a 3.1% increase in Saudi Arabian Mining Company. Mobile Telecommunications Saudi Arabia, known as Zain KSA, added 0.4% following a rise in quarterly net profit. Saudi Arabia’s investment minister said the number of companies in the kingdom with a regional headquarters had reached 540, ahead of a 2030 target of 500.
The Qatari index gained 0.8%, with the Gulf's biggest lender Qatar National Bank climbing 1.1%, while petrochemical maker Industries Qatar rose 0.7% ahead of its earnings announcement. Egypt's blue-chip index dropped 0.5%, hit by a 1.1% fall in Commercial International Bank.