A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets advanced on Thursday as a series of strong first-half corporate results lifted investor sentiment despite continuing regional uncertainty.
The ADX General Index (FADGI) rose 0.708% to close at 9,840.64. Trading activity remained strong, with 21,723 trades involving 189 million shares worth Dh993 million. The total market capitalisation of ADX-listed companies stood at Dh2.878 trillion.
Banking stocks were the main market movers as first-half results boosted investor optimism. First Abu Dhabi Bank (FAB) surged 6.26% after reporting a net profit of Dh10.73 billion for the first half of 2026.
Abu Dhabi Commercial Bank rose 1.55% after reporting a 34% increase in first-half net profit despite the regional situation. Abu Dhabi Islamic Bank gained 1.46%.
ADNOC-linked stocks largely maintained their positive momentum. ADNOC Gas advanced 1.19%, while ADNOC Distribution gained 0.5%. ADNOC Drilling rose 0.53%, while ADNOC L&S bucked the trend, falling 1.75%. Borouge remained unchanged at Dh2.4, while Fertiglobe fell nearly 3%.
Alpha Dhabi dropped 1.08% to Dh7.35, while another holding company, 2PointZero, fell 0.48% to Dh2.08.
Real estate major Aldar rose 0.65% after launching the Dh100 billion Marsa Al Saadiyat project. Telecom major e& gained 0.2%.
In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.24% to close at 5,799.04. The session recorded 11,845 trades, with 87 million shares changing hands for a total value of Dh378 million. Market breadth was positive, with 20 gainers, 18 decliners and nine stocks unchanged.
Real estate majors Emaar Properties and Emaar Development posted losses, with the former falling 0.89% and the latter slipping 0.46%.
As on the ADX, banking stocks supported the main index. Emirates NBD rallied 3% after reporting a record first-half pre-tax profit of Dh16.2 billion, up 5% year on year. Dubai Islamic Bank gained 1.63%.
Utility provider DEWA rose 0.75%, while road-toll operator Salik gained 0.37%.
Food-delivery company talabat lost 1.79%, while Air Arabia rose 1.24%. Telecom operator du fell 2.1%.
Strong first-half earnings from FAB, ADCB and Emirates NBD reinforced the view that UAE banks remain the market’s strongest earnings engine, Milad Azar, Market Analyst at XTB MENA, said.
“The rally suggests investors are prioritising balance-sheet quality, loan growth and resilient profitability over short-term geopolitical noise, with the ADX posting a broad-based advance on solid trading volumes,” Azar said.
“The key takeaway is that market leadership has shifted decisively towards financial stocks, while property and holding-company names remain mixed,” he added.
Selective strength among ADNOC-linked stocks provided a second pillar of support on ADX, Azar said.