A. SREENIVASA REDDY (ABU DHABI)

UAE stock markets traded mixed on Monday, with Abu Dhabi giving up some of its recent gains while Dubai managed to remain marginally in positive territory.

The ADX General Index (FADGI) fell 1.613% to close at 10,106.07. The session recorded 21,138 trades involving 280 million shares worth Dh843 million. The total market capitalisation of ADX-listed companies stood at Dh2.640 trillion.

Banking stocks posted gains, with First Abu Dhabi Bank advancing 1.84%. Abu Dhabi Islamic Bank rose 0.61%, while Abu Dhabi Commercial Bank added 0.5%.

ADNOC-linked stocks delivered a subdued performance. ADNOC Logistics and Services lost 0.68%, while ADNOC Gas slipped 0.61%. ADNOC Distribution remained unchanged at Dh4.03, while ADNOC Drilling rose 0.18%. Fertiglobe gained 1.19%, while Borouge remained unchanged at Dh2.37.

Real estate major Aldar slipped 0.25%, while telecom operator e& declined 0.37%.

PureHealth rose 6.34%, while cryptocurrency mining and data centre infrastructure company Phoenix Group gained 4.25%.

Among holding companies, 2PointZero slipped 1.32% to close at Dh2.25, while Alpha Dhabi declined 1.82% to Dh7.54.

International Holding Company (IHC) fell 4.6%, giving up most of Friday’s gains. In a statement, IHC said Fount Trust was its ultimate parent, while assuring investors that the restructuring would not change its operations, strategy or business activities.

In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.051% to close at 5,960.24. The session recorded 12,230 trades, with 269 million shares changing hands for a total value of Dh528 million.

Market breadth was negative, with 17 gainers and 30 decliners, while 10 stocks remained unchanged.

Real estate major Emaar Properties lost 0.69%, while its subsidiary Emaar Development declined 1.62%.

Banking stocks posted strong gains, with Emirates NBD rising 1.25% and Dubai Islamic Bank adding 0.97%.

Utility provider DEWA, telecom operator du and toll gate operator Salik ended unchanged.

Food delivery platform talabat gained 0.85% to close at Dh1.19.

Free-zone operator TECOM Group lost 4%, while Dubai Residential REIT declined 3.03%.

Abu Dhabi’s decline was clearly influenced by IHC’s 4.6% drop, particularly after Friday’s strong rebound, although weakness was evident across several other major stocks, Milad Azar, Market Analyst at XTB MENA, said.

“Still, gains in FAB, ADIB and ADCB provided some support, while PureHealth’s 6.3% surge highlighted continued investor interest in healthcare and defensive growth themes,” Azar said.

Dubai showed greater resilience despite negative market breadth, with strong performances by Emirates NBD and Dubai Islamic Bank offsetting weakness in property stocks, he said.

“Overall, today’s action suggests selective positioning rather than broad-based risk selling, with investors favouring liquid banks and specific growth stories,” Azar added.