A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets continued their upward journey on Wednesday, building on the previous day’s gains, as optimism over earnings reports gripped investors.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) rose 0.370% to close at 10,393.65. Trading remained active, with 27,914 trades involving 357 million shares and a total value of Dh1.73 billion. Total market capitalisation of ADX-listed stocks stood at Dh3.164 trillion.
Among banking heavyweights, Abu Dhabi Commercial Bank led the gains with an advance of 2.38%, followed by Abu Dhabi Islamic Bank, which added 0.92%. First Abu Dhabi Bank was relatively subdued, rising 0.75%, even as it declared double-digit growth across several financial parameters in 2025.
Among ADNOC-listed companies, ADNOC Gas stole the show with a gain of 1.40% and emerged as the most traded stock in terms of both value and volume, underscoring its strong liquidity. ADNOC Drilling gained 0.37% and ADNOC Distribution edged up 0.24%, while ADNOC Logistics and Services declined 0.69%.
Realty major Aldar rose 0.94%. Holding company Alpha Dhabi gained 0.44%, whereas 2PointZero slipped 0.43%.
Among the notable decliners was Dana Gas, which fell 1.57% after a recent bullish run driven by new gas discoveries in Egypt and gas supply deals in the Kurdistan region of Iraq. Bitcoin miner Phoneix Group declined 1.80% to close at Dh0.982.
In Dubai, the Dubai Financial Market General Index (DFMGI) climbed 0.748% to close at 6,514.04. The session saw 16,798 trades, with 226 million shares changing hands for a total value of Dh992 million. Market breadth reflected 25 gainers, 19 decliners and eight unchanged stocks.
As is often the case, real estate heavyweights Emaar and Emaar Development led the rally, gaining 2.33% and 1.73%, respectively. Another realty firm, Deyaar, rose nearly 1%.
Following the real estate sector, REITs also performed strongly. Al Mal Capital REIT surged an astounding 15%, while Dubai Residential REIT gained 3.1%. District cooling major Empower advanced 3%, and road toll operator Salik added 1%.
Among banking stocks, Emirates NBD rose nearly 1% following a lukewarm response to its annual results on the first day of trading. Dubai Islamic Bank gained 0.4%. On the downside, ALEC Holding declined 2.5%.