A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets traded mixed on Thursday amid an escalating regional situation.
The ADX General Index (FADGI) rose 0.056% to close at 10,112.26. The session recorded 25,457 trades involving 399 million shares worth Dh1.27 billion. The total market capitalisation of ADX-listed companies stood at Dh2.643 trillion.
Banking stocks recorded strong gains, except for First Abu Dhabi Bank, which declined 0.2%. Abu Dhabi Commercial Bank advanced 1.65%, while Abu Dhabi Islamic Bank added 1.37%.
ADNOC-linked stocks also gained, supporting the general index. ADNOC Drilling rose 0.34%, while ADNOC Gas added 0.61%. ADNOC Distribution advanced 0.25%, while ADNOC Logistics and Services gained 0.85%. Fertiglobe remained unchanged at Dh2.82, while Borouge rose 0.42%.
Among holding companies, 2PointZero added 0.26% to close at Dh2.25, while Alpha Dhabi lost 0.54%.
Real estate major Aldar added 0.26% despite a challenging environment for the property sector. Telecom operator e& lost 0.46% following its recent gains. Abu Dhabi National Company for Building Materials (BILDCO) showed no signs of slowing, adding 4.24%.
Engineering, procurement and construction major NMDC gained 4.07%, extending the previous day’s advance. EMSTEEL and RAK Properties were among the stocks that gained more than 2%.
In Dubai, the Dubai Financial Market General Index (DFMGI) dropped 0.394% to close at 5,904.04. The session recorded 12,822 trades, with 211 million shares changing hands for a total value of Dh420 million. Market breadth was negative, with 17 gainers and 30 decliners, while five stocks remained unchanged.
Real estate major Emaar Properties fell 0.73%, while its subsidiary Emaar Development advanced 0.62%.
Banking stocks were mixed, with Emirates NBD gaining 0.27%, while Dubai Islamic Bank slipped 0.41%.
Telecom operator du lost 0.86%. Utility provider DEWA rose 2.57%, while toll gate operator Salik declined 0.92%. Food delivery platform talabat lost 1.68% to close at Dh1.17.
The UAE markets showed resilience despite heightened regional tensions, with Abu Dhabi edging higher as banking and ADNOC-linked stocks provided support, Milad Azar, Market Analyst at XTB MENA, said.
“Strong performances from ADCB, ADIB and several industrial stocks helped offset weakness in e& and Alpha Dhabi. The ADX’s steady performance suggests investors remain selective, favouring companies perceived to offer stronger fundamentals and earnings visibility,” Azar said.
Dubai, meanwhile, faced broader selling pressure, with declines in Emaar Properties, du and talabat. “The divergence between the two markets highlights greater caution among investors, with sentiment likely to remain sensitive to geopolitical developments and global interest-rate expectations,” Azar added.