A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets, along with other GCC markets, faced severe selling pressure on Thursday following regional developments.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) fell 1.363% to close at 10,608.80. Trading activity remained robust, with 26,660 trades involving 313 million shares valued at Dh1.506 billion. The total market capitalisation of ADX-listed stocks stood at Dh3.185 trillion.
Holding companies Alpha Dhabi and 2PointZero led the ADX decline, with their share prices dropping 5.99% and 5.34%, respectively. Real estate major Aldar also declined 1.54% after a strong positive run in recent weeks.
Banking stocks were not spared. Abu Dhabi Islamic Bank fell 2.92%, First Abu Dhabi Bank slipped 2.99%, and Abu Dhabi Commercial Bank lost 1.76%.
In the energy segment, ADNOC Logistics and Services fell 1.08%, ADNOC Drilling slipped 1.91%, ADNOC Distribution lost 0.49%, and ADNOC Gas declined 0.57%. Other ADNOC-related names also weakened, with Borouge losing 1.52% and Fertiglobe shedding 1.11%. Sharjah-based Dana Gas fell 1.04%.
One bulk transaction involving Dh78 million worth of shares in RAK Properties was reported by ADX.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) dropped 2.326% to close at 6,607.69. The session recorded 17,496 trades, with 306 million shares traded for a total value of Dh968 million. Market breadth showed seven gainers, 45 decliners and three unchanged stocks.
All blue chips posted losses, dragging down the main index. Property heavyweights Emaar and Emaar Developments led the DFM decline, each losing more than 2.5%.
Road toll operator Salik lost 2.29%, while Sharjah-based carrier Air Arabia declined 1.25%.
Banking stocks Emirates NBD and Dubai Islamic Bank fell 1.90% and 2.94%, respectively. Food delivery platform Talabat dropped nearly 6%.
“UAE equities retreated sharply on heightened geopolitical tensions, as markets continued to react to the evolving US-Iran situation. The risk-off sentiment weighed heavily across sectors,” said Adam Vettese, Market Analyst at eToro.
Modon Holding at ADX Growth Market fell 4.5% despite reporting strong 2025 results, including revenues of Dh37.5 billion and net profit of Dh10.6 billion.
“While the headline figures point to solid operational performance and continued growth momentum, the stock appears to have been caught in the wider market downturn, with some investors potentially locking in gains following previous strength,” Vettese said.