A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets reported muted trading on Thursday amid what appeared to be a continuing stalemate in US-Iran peace talks, with no visible signs of either progress or escalation.
The ADX General Index (FADGI) rose 0.22% to close at 9,809.64. Trading activity remained strong, with 19,609 trades involving 239 million shares valued at Dh916 million.
The total market capitalisation of ADX-listed stocks stood at Dh2.88 trillion. Anan Investment shares worth Dh17.85 million were sold in a single bulk transaction.
As was the case in the previous session, banking stocks provided support to ADX, with Abu Dhabi Islamic Bank gaining 1.71%. First Abu Dhabi Bank added 1.4%, while Abu Dhabi Commercial Bank remained flat at Dh14.48.
ADNOC-linked stocks were mixed even as international agencies said the UAE had restored oil exports almost to pre-conflict levels. ADNOC Logistics and Services lost 0.34% after its recent rally following upgraded guidance for this year. ADNOC Distribution gained 0.25%, while ADNOC Gas stayed flat at Dh3.44. ADNOC Drilling slipped 0.7%. Borouge lost 0.4%, while Fertiglobe dropped 1.47%.
Investment holding company 2PointZero gained 1.42%, with its share price reaching Dh2.15. Another holding company, Alpha Dhabi, remained flat at Dh7.88. Realty giant Aldar lost 0.1%, showing some weakness after recent gains.
In Dubai, the Dubai Financial Market General Index (DFMGI) fell 0.324% to close at 5,990.59. The session recorded 11,976 trades, with 134 million shares changing hands for a total value of Dh474 million. Market breadth was evenly balanced, with 21 gainers, 21 decliners and 11 stocks unchanged.
Real estate heavyweights Emaar and Emaar Development led the market fall, with the former losing 0.83% and the latter slipping 2.25%.
Emirates NBD gained 0.6% and Dubai Islamic Bank rose 1.4%, helping to stem the fall in the main index. Telecom company du continued its winning streak with a rise of 0.51%.
Food delivery app Talabat was the star performer with a gain of 5%. Dubai Residential REIT gained 2.38% at a time when real estate entities were showing persistent weakness.
Utility provider DEWA lost 0.36%, while road toll operator Salik fell 2.19%. Etihad Energy, the rebranded version of Gulf Navigation, lost 1.7%.
“UAE markets continue to trade in a consolidation phase, with investors awaiting clearer geopolitical signals and macroeconomic catalysts,” said Milad Azar, Market Analyst at XTB MENA.
Banking stocks remain the market’s anchor, reflecting confidence in earnings resilience and healthy liquidity, Azar said.
“Selective buying in Talabat highlights investors’ preference for growth names with strong operational momentum despite subdued overall turnover,” he added.
Dubai’s weakness was largely driven by profit-taking in heavyweight real estate stocks, while Abu Dhabi benefited from financial sector strength, Azar said.
“Mixed performance across ADNOC-linked companies suggests investors are becoming more selective after recent rallies, focusing on valuation and earnings visibility rather than broad sector exposure,” Azar said.