A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets saw robust trading activity in terms of the number of trades and value transacted on Thursday, even as selling pressure persisted against the backdrop of geopolitical tensions.
The ADX General Index (FADGI) fell 0.326% to close at 9,545.51. Trading activity remained strong, with 24,245 trades involving 945 million shares valued at Dh1.49 billion. The total market capitalisation of ADX-listed stocks stood at Dh2.782 trillion. Two bulk transactions involving Anan Investments and Eshraq Investments were reported.
Banking stocks came under pressure, with First Abu Dhabi Bank losing 2.27%. Abu Dhabi Islamic Bank dropped 1.46%, while Abu Dhabi Commercial Bank slipped 0.76%.
ADNOC-linked stocks saw an upsurge of sorts, with oil prices hovering around $95 per barrel. ADNOC Logistics and Services gained 3.53%. ADNOC Distribution rose 2.7%, while ADNOC Drilling added 2.81%. ADNOC Gas, one of the most traded stocks on ADX, gained 0.6%. Fertiglobe advanced 3.11%, with its price reaching Dh2.98, while Borouge added 0.81%.
Holding company 2PointZero lost 1.36% after divesting from TAQA, while Alpha Dhabi recorded a fall of 0.82%. Real estate giant Aldar lost 1.7%, reflecting the recent bearish trend in the property sector.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) fell 0.418% to close at 5,733.88. The session recorded 17,534 trades, with 213 million shares changing hands for a total value of Dh969 million. Market breadth remained negative, with 13 gainers, 32 decliners and eight stocks unchanged.
Real estate heavyweights Emaar and Emaar Development fell 2.35% and 3.39%, respectively, weighing on the main index.
Emirates NBD lost 0.15%, while Dubai Islamic Bank fell 0.82%.
Road toll operator Salik lost 1.93%. Sharjah-based carrier Air Arabia gained 1.47%, while DEWA slipped 0.38%. Telecom giant du posted a gain of 1%. Food delivery app Talabat traded flat at Dh1.31.
“UAE equities remained under pressure despite elevated energy prices, highlighting a market increasingly driven by sector rotation rather than broad-based risk appetite,” said Milad Azar, Market Analyst at XTB MENA.
Commenting on ADX trading, Azar said: “Strength across ADNOC-linked names and Fertiglobe reflected expectations of stronger cash flows and earnings leverage due to higher commodity prices, helping offset weakness in financials and real estate.”
Azar said the divergence between energy stocks and domestic cyclicals suggests investors are balancing external revenue opportunities against concerns over regional uncertainty.
“Sustained trading volumes indicate active repositioning rather than capitulation, with market participants selectively favouring defensive, cash-generative businesses while reducing exposure to interest-rate-sensitive sectors,” Azar said.