A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets largely consolidated Friday’s gains on Monday, with most blue-chip stocks ending in positive territory.
The ADX General Index (FADGI) edged down 0.016% to close at 9,975.72, less than two points below its previous close. The session recorded 23,194 trades involving 398 million shares worth Dh939 million. The total market capitalisation of ADX-listed companies stood at Dh2.610 trillion.
Banking stocks were positive, with Abu Dhabi Islamic Bank gaining 0.43% and Abu Dhabi Commercial Bank advancing 0.26%. First Abu Dhabi Bank rose 0.21%.
Most ADNOC-linked stocks also advanced as oil exports approached pre-conflict levels. ADNOC Drilling rose 0.34%, while ADNOC Gas added 0.63%. ADNOC Distribution gained 0.75%, while ADNOC Logistics and Services dropped 1%. Fertiglobe jumped 3.65% to Dh2.84, while Borouge advanced 1.7% to Dh2.39.
Among holding companies, Alpha Dhabi rose 2.18%, while 2PointZero advanced 3.42% to Dh2.12.
Real estate major Aldar rose 1.68% after announcing the launch of a new residential development in the Saadiyat Cultural District centred on a Japanese concept of wellness.
Abu Dhabi National Company for Building Materials (BILDCO) jumped nearly 15%, continuing its bullish run following its recent rebranding.
In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.793% to close at 5,931. The session recorded 16,291 trades, with 649 million shares changing hands for a total value of Dh760 million.
Market breadth was positive, with 28 gainers and 17 decliners, while 10 stocks remained unchanged.
Real estate major Emaar Properties rose 1.27%, while its subsidiary Emaar Development advanced 0.46%, helping lift the main index.
Banking stocks showed a mixed trend, with Emirates NBD gaining 0.13%, while Dubai Islamic Bank declined 0.14%.
Telecom operator du gained more than 1%, while utility provider DEWA added 2.56%.
Shuaa Capital, which gained 12.2%, and Islamic Arab Insurance Company (SALAMA), which rose 8.8%, were among the most actively traded stocks on the DFM.
The UAE markets showed resilience, with Abu Dhabi largely consolidating Friday’s gains and Dubai delivering a stronger performance, said Milad Azar, Market Analyst at XTB MENA.
“The ADX’s marginal decline suggests that investors remain cautious, but gains in banks, ADNOC-linked companies and major holding companies indicate underlying buying interest,” Azar said.
Oil exports returning towards pre-conflict levels are also improving sentiment towards energy-related stocks and supporting confidence in corporate earnings, he added.
Dubai’s 0.8% advance was more convincing, supported by gains in Emaar Properties, DEWA and several actively traded stocks, Azar said.
“Overall, the session points to selective risk appetite rather than broad-based momentum, with investors favouring companies offering strong fundamentals, earnings visibility and exposure to improving economic conditions,” he added.