A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets on Wednesday built on the gains made in the previous session after the Central Bank of the UAE (CBUAE) announced a resilience package allowing banks greater access to liquidity.
The ADX General Index (FADGI) rose 0.156% to close at 9,571.05. Trading activity remained robust, with 45,487 trades involving 916 million shares valued at Dh3.17 billion.
The volume and value of trading were unusually high given that there were no reported bulk transactions. The total market capitalisation of ADX-listed stocks stood at Dh2.894 trillion.
2PointZero Group was the star performer, gaining 8.38% with its share price reaching Dh1.94. The stock, which faced some negative headwinds recently, has recovered some lost ground.
It was also the most traded stock on ADX in terms of both value and volume. Another holding company, Alpha Dhabi, moved in the opposite direction, losing 4.94%.
Banking stocks presented a mixed performance. Abu Dhabi Islamic Bank gained 4.65%, while Abu Dhabi Commercial Bank added 3.57%. First Abu Dhabi Bank lost 3.26%, while RAK Bank surged 9.87%.
Most RAK-linked companies on ADX rallied after S&P Global affirmed the ratings of the emirate of Ras Al Khaimah.
Real estate major Aldar added 3.69% after some losses in the previous weeks.
All ADNOC-linked stocks, except ADNOC Gas, declined amid negative market sentiment related to the energy sector. ADNOC Drilling lost 2.42%, ADNOC Distribution fell 2.43%, while ADNOC Logistics and Services declined 2.92%.
Fertiglobe was down 4.41% and Borouge slipped 1.59%. ADNOC Gas bucked the trend, registering a gain of nearly 1%.
Abu Dhabi National Insurance and PureLife were among the prominent stocks that nearly hit the maximum daily decline of 5%.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) posted a gain of 0.809% to close at 5,550.24. The session recorded 41,869 trades, with 538 million shares traded for a total value of Dh2.42 billion. Market breadth showed 29 gainers, 19 decliners and eight unchanged stocks.
Real estate giants Emaar and Emaar Development led the rally, as in the previous session, gaining 4.37% and 6.27%, respectively.
Banking major Emirates NBD and Dubai Islamic Bank slipped 0.9% and 2.32%, respectively.
Road toll operator Salik also lost 3.52%, while Sharjah-based carrier Air Arabia declined nearly 5% after some recent gains.
Food delivery app Talabat recovered some lost ground, gaining over 5%.
“Dubai and Abu Dhabi equity markets opened Wednesday’s session with strong gains, building on Tuesday’s robust rally, before paring some of their early advances as profit-taking set in and geopolitical concerns lingered,” said Adam Vettese, Market Analyst at eToro.
Vettese added a note of caution: “While valuations in several sectors look compelling, markets are expected to remain volatile and sensitive to any new developments in the region.”
Liquidity easing by the CBUAE is acting as a short-term catalyst, reflected in elevated turnover without block trades — suggesting genuine participation rather than concentrated flows, said Milad Azar, Market Analyst at XTB MENA.
However, the modest ADX gain signals selective risk appetite, with capital rotating tactically across sectors, Azar said, adding: “The divergence between holding companies highlights fragile conviction and a market still searching for directional clarity.”
In Dubai, momentum remains skewed towards real estate, underpinned by earnings visibility and retail interest, while banks lag amid margin uncertainty, Azar said. “The pullback from intraday highs indicates opportunistic profit-taking rather than structural weakness,” he added.