A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets remained muted on Wednesday as investors stayed cautious amid the developing situation in the region.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) edged down 0.003% to close at 10,637.59. Trading activity remained robust, with 25,871 trades involving 393 million shares valued at Dh1.513 billion. The total market capitalisation of ADX-listed stocks stood at Dh3.180 trillion.
Blue-chip performance on the ADX was mixed. Holding company Alpha Dhabi rose 2.42%, while 2PointZero declined 0.49%.
Banking stocks also showed a mixed trend. First Abu Dhabi Bank fell 1.26%, while Abu Dhabi Commercial Bank gained 1.29% and Abu Dhabi Islamic Bank rose 1.15%.
Energy stocks reflected a similar pattern. ADNOC Gas, the most traded stock on ADX, gained 1.16%. ADNOC Distribution rose 0.25% and ADNOC Logistics and Services added 0.18%. However, ADNOC Drilling slipped 0.19%. Fertiglobe gained 0.37%, while Borouge remained flat.
Property major Aldar declined 0.71%, while Abu Dhabi National Hotels surged 8% following its recent results, becoming the most traded stock by volume on the ADX. State-backed Space42 also advanced 3.15%.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) rose 0.099% to close at 6,675.84. The session recorded 17,881 trades, with 255 million shares traded for a total value of Dh1.001 billion. Market breadth indicated 18 gainers, 24 decliners and 12 unchanged stocks.
Property heavyweight Emaar was flat, while Emaar Developments gained 0.77%, mirroring the mixed performance seen across UAE markets.
Among banking stocks, Emirates NBD rose 2.25%, while Dubai Islamic Bank fell 1.16%.
Sharjah-based carrier Air Arabia declined 2.72%, trimming some of its recent gains. Food delivery platform Talabat fell nearly 3%, resuming its decline after a brief recovery.
Adam Vettese, Market Analyst at eToro, said UAE equity markets remained flat as investor caution persisted. “Sentiment in regional bourses was dampened by extended declines in Saudi Arabia amid fiscal concerns. Broader Gulf markets have recently reflected heightened risk aversion, tracking geopolitically linked pressures,” Vettese said.
Commenting on the day’s trading, Vettese said gains in select energy names and financials offered some support, while Emirates NBD’s uptick highlighted continued interest in bank valuations. “By contrast, utilities remained the weakest sector, underperforming for a second consecutive session amid risk-off positioning,” he added.
e& Group fell around 1.6%, despite reporting record full-year revenue, net profit and a dividend increase. “This underscores how broader market caution can override strong corporate fundamentals,” Vettese said.