A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets reported strong positive trading despite the global markets seeing declines over US President-elect Donald Trump’s proposed tariffs on imports.
The main index of the Abu Dhabi Securities Exchange (ADX) — FADGI — saw a steep rise of 0.673% to reach 9,294.04 points.
A total of 23,381 trades were reported at the ADX, involving 280 million shares with a combined value of Dh1.154 billion. The market capitalisation of all companies listed on the ADX reached Dh2.902 trillion.
Of a total 82 listed companies, shares of 45 companies rose, while 26 declined. Prices of 11 scrips remained unchanged.
Banking stocks — ADCB and FAB — saw an impressive rise of 3.56% and 2.16%, respectively. International Holding Company (IHC)’s shares worth Dh194 million were traded on Tuesday due to the share buyback programme currently in progress.
Lulu Retail saw a fall of 4.21% to reach Dh1.82 after it was listed at the ADX with a price of Dh2.04 on 14 November. It is struggling to regain its value even after what appears to be good Q3 results.
National Takaful (+14.95%), ESG Emirates Stallions (+14.90%), Hilly Holding (+11.52%) and NBF (+10.83%) were among the top gainers. Al Khaleej Investment (-9.89%), Ghitha Holdings (-4.74%) and Americana Restaurants (-3.14%) were among the day’s notable losers.
The main index of the Dubai Financial Market (DFM) — DFMGI — saw an impressive rise of 1.269% to end at 4,828.83 points. This is by far the best performance by the DFM in recent weeks.
A total of 16,498 trades, involving 274 million shares with a total value of Dh597 million, were reported at the DFM. Prices of 27 companies rose, while 16 declined, and four closed unchanged.
Property giants Emaar, Emaar Development, and Deyaar continue to be star performers at the DFM as they have been consistently rising for the past several weeks.
Gulf Navigation Holding (+8.03%), Amlak Finance (+6.075%), Deyaar (+5.73%), and Empower (+4.40%) were among the top gainers. Dubai Insurance (-9.88%), National Cement (-9.00%) and Salik (-1.72%) saw declines.