A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets remained resilient on Tuesday, posting minimal losses despite strong selling pressure.
The ADX General Index (FADGI) edged down 0.052% to close at 9,520.84. Trading activity stayed robust, with 27,150 trades involving 773 million shares valued at Dh1.205 billion. The total market capitalisation of ADX-listed stocks stood at Dh2.766 trillion.
ADNOC Logistics and Services was among the few companies to buck the negative trend, posting a gain of 3.4%, while United Arab Bank also advanced 4.76%.
Banking stocks showed a mixed performance. Abu Dhabi Islamic Bank rose nearly 2%, Abu Dhabi Commercial Bank declined 0.96%, and First Abu Dhabi Bank traded flat. Real estate major Aldar fell 1.39%.
Holding company 2PointZero declined 2% despite announcing an investment of more than $2 billion in a US company, while Alpha Dhabi gained 0.88%.
ADNOC-listed companies also showed a mixed trend. ADNOC Drilling rose 1.39% and ADNOC Distribution gained 1.34%, while ADNOC Gas fell 1.54%. Fertiglobe declined 2.49% after a strong performance in the previous session, and Borouge traded flat.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) dropped 0.15% to close at 5,434.41. The session saw 15,921 trades, with 173 million shares traded for a total value of Dh828 million. Market breadth included 12 gainers, 29 decliners and 11 unchanged stocks.
Real estate giants Emaar and Emaar Development fell 0.45% and 0.56%, respectively, weighing on the general index.
Other leading companies, including Emirates NBD, road toll operator Salik, and utility major DEWA traded in positive territory and helped limit losses on the DFM. Emirates NBD rose 0.56%, Dubai Islamic Bank gained 0.27%, Salik advanced 2%, and DEWA increased 1.89%.
"UAE equity markets closed on Tuesday virtually flat after a cautious session, as investors weighed tentative comments from US President Donald Trump suggesting a possible de-escalation or end to the month-long regional conflict,” Adam Vettese, Market Analyst at eToro, said.
Banking stocks provided the main support, with UAB standing out as the session’s notable gainer, Vettese added.
“Overall market turnover stayed subdued as participants await clearer signals on the geopolitical front and the next wave of corporate earnings,” Vettese said.