A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets retreated on Monday after last week’s rebound, as continuing geopolitical tensions weighed on investor sentiment.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) fell 0.209% to close at 10,264.23. Trading remained active, with 24,226 trades involving 274 million shares and a total value of Dh1.27 billion. Total market capitalisation of ADX-listed stocks stood at Dh3.134 trillion.
Abu Dhabi Islamic Bank (ADIB) and Sharjah Islamic Bank (SIB) bucked the broader trend, posting gains of 2.66% and 1.32%, respectively. Fertiglobe was another notable gainer, rising 1.89%.
Sharjah-based oil company Dana Gas built on its recent rally, adding 0.74%. Dana Gas and Crescent Petroleum, together with their partners in the Pearl Petroleum Consortium, announced a series of long-term gas sales agreements to supply substantial volumes of clean-burning natural gas from the Chemchemal field to major industrial consumers in the Kurdistan Region of Iraq.
Among the decliners, banking heavyweights Abu Dhabi Commercial Bank and First Abu Dhabi Bank slipped 1.02% and 0.74%, respectively.
2PointZero was the biggest loser on a day flat trading at ADX, plunging 5.74% to Dh2.30, one of its lowest levels in recent times.
Another holding company, Alpha Dhabi, fell 0.96%. ADNOC Drilling declined 0.95%, while ADNOC Gas eased 0.28%. Aldar closed flat despite trading in heavy volumes.
In Dubai, the Dubai Financial Market General Index (DFMGI) lost 0.59% to close at 6,446.15. The session recorded 15,368 trades, with 274 million shares changing hands for a total value of Dh732 million.
Market breadth showed 10 gainers, 38 decliners and seven unchanged stocks.
Electricity and water utility DEWA was the only prominent gainer, rising 1.31%. Free zone operator TECOM and logistics firm Aramex gained more than 1%.
Dubai’s decline was led by property major Emaar, which fell 1% and was the most traded stock by value. Its sister company, Emaar Development, lost 0.58%. Road toll operator Salik was another major loser, sliding 1.66%. Emirates NBD remained largely stable, edging down marginally by 0.16%.
Commenting on the day’s trading, Milad Azar, Market Analyst at XTB MENA, said selling pressure was concentrated in major banking and energy stocks, reflecting short-term profit-taking rather than any deterioration in fundamentals. In contrast, gains in Islamic banks underscored selective risk appetite, he added.
“Trading activity remained healthy, pointing to a phase of consolidation, with market direction likely to remain sensitive to regional developments and global sentiment,” Azar said.