A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets advanced on Monday as continued optimism over first-half corporate results outweighed uncertainty surrounding US-Iran tensions in the region.
The ADX General Index (FADGI) rose 0.173% to close at 9,845.11. Trading activity remained strong, with 24,124 trades involving 233 million shares worth Dh1.02 billion. The total market capitalisation of ADX-listed companies stood at Dh2.879 trillion.
Banking stocks mostly traded in positive territory. Abu Dhabi Commercial Bank rose 1.8%, while Abu Dhabi Islamic Bank advanced 0.57%. First Abu Dhabi Bank remained unchanged at Dh18.66 despite attracting high-value trading following its strong first-half results.
ADNOC-linked stocks maintained their positive momentum. ADNOC Drilling advanced 2.27%, while ADNOC Gas rose 0.9%. ADNOC L&S gained 0.16%, while ADNOC Distribution slipped 0.25%. Fertiglobe advanced 1.52%, while Borouge gained 0.42%.
Alpha Dhabi gained 1.51% to Dh7.42, while another holding company, 2PointZero, advanced 0.97% to Dh2.08.
Real estate major Aldar rose 0.66% after launching the Dh100 billion Marsa Al Saadiyat project. Burjeel was among the prominent gainers, rising 1.67%, while crypto mining and data-centre infrastructure company Phoenix Group continued its downward trajectory with a loss of 4.25%.
In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.987% to close at 5,844.07. The session recorded 13,898 trades, with 148 million shares changing hands for a total value of Dh459 million. Market breadth was positive, with 34 gainers, nine decliners and 10 stocks unchanged.
Real estate majors Emaar Properties and Emaar Development posted robust gains, with the former rising 1.99% and the latter gaining 2.28%.
Banking stocks also rallied, supporting the strong rise in the main index. Emirates NBD rose 0.53%, while Dubai Islamic Bank gained 2.04%.
Utility provider DEWA rose 0.75%, while road-toll operator Salik lost 1.46%. Food-delivery company talabat gained 0.91%, while Air Arabia rose 0.82% and telecom operator du advanced 1.5%. Al Mal Capital REIT was among the other gainers, rising 2.68%.
While elevated oil prices are beginning to weigh on global risk appetite, Gulf markets — particularly those in the UAE — appear comparatively well positioned to navigate the changing environment, FOREX.com said in an analysis.
The MSCI UAE Index continues to hold the lower boundary of the ascending channel that has guided its price action since 2023, reflecting underlying resilience despite heightened geopolitical uncertainty, the analysis said.
Across the GCC, contained inflation, resilient economic growth, continued economic diversification and stronger fiscal balances provide structural support. Higher crude prices, while presenting challenges for global equities, also bolster government revenues, liquidity conditions and long-term investment plans across the region, it added.
“While higher oil prices are weighing on global equity valuations through rising inflation expectations and bond yields, GCC markets enter the second half of 2026 from a position of relative strength,” said Razan Hilal, Market Analyst at FOREX.com. “Stronger fiscal balances, resilient growth and ongoing diversification continue to support regional markets despite a more cautious global investment environment.”