A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets extended their positive momentum on Thursday, building on the gains recorded a day earlier and recovering part of the losses seen in recent weeks.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) rose 0.430% to 9,913.79. Trading remained active, with 25,310 trades involving 354 million shares and a total value of Dh1.355 billion. Total market capitalisation on ADX reached Dh3.107 trillion.
Aldar Properties surged 4.34% after announcing the launch of Aldar Capital in collaboration with Mubadala. Gulf Pharmaceuticals (Julphar) was the standout performer, jumping 13.22% and ranking among the most heavily traded stocks by volume. Presight, the AI arm of G42, posted solid gains with a 3.2% rise, while crypto miner Phoenix Group advanced nearly 8%, lifting its share price to Dh1.09.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) added 0.362% to close at 5,928.02. The session saw 13,570 trades, with 207 million shares traded at a combined value of Dh666 million. Market breadth stood at 24 gainers, 21 decliners and seven unchanged stocks.
DFM, the exchange operator, led the rally with a 6.33% rise. Emaar Development gained more than 1%, while other real estate players also advanced — Emaar rose 0.74%, and Deyaar climbed 3.96%. Sharjah-based Air Arabia declined 1.56%.