A. SREENIVASA REDDY (ABU DHABI)

UAE stock markets posted gains on Monday even as conflicting signals emerged over efforts to address the regional situation.

The ADX General Index (FADGI) rose 0.258% to close at 9,490.72. The session recorded 20,852 transactions involving 176 million shares worth Dh775 million. The total market capitalisation of ADX-listed companies stood at Dh2.491 trillion.

Banking stocks remained resilient, with Abu Dhabi Islamic Bank advancing 1.11%. First Abu Dhabi Bank added 0.86%, while Abu Dhabi Commercial Bank bucked the trend, losing 0.25%.

Most ADNOC-linked stocks gained as the annual energy event ADIPEC began in Abu Dhabi.

ADNOC Gas gained 0.32% as Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, announced the final investment decision for the Ruwais Diyab Unconventional Gas Development in Abu Dhabi.

ADNOC Drilling rose 1.71%, while ADNOC Logistics and Services advanced 0.29%. ADNOC Distribution added 0.8%. Borouge gained 1.33%, while Fertiglobe moved in the opposite direction, losing 0.45%.

Real estate major Aldar slipped 1%, while telecom operator etisalat gained 1.24% to close at Dh21.2.

Among holding companies, Alpha Dhabi gained 1.16% to close at Dh6.96, while 2PointZero lost 0.52% to close at Dh1.91.

The secondary market, known as the Growth Market, also saw gains, with Palms Sports rising 3.87% and Emirates Stallion Group advancing 1.33%. Al Seer Marine gained 1.42%, while Ghitha Holding added 1.09%.

In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.643% to close at 5,807.83. The session recorded 14,522 trades, with 180 million shares changing hands for a total value of Dh508 million.

Market breadth was positive, with 23 gainers and 17 decliners, while 11 stocks remained unchanged.

Real estate majors Emaar Properties and Emaar Development led the market rally with gains of 1.1% and 3.63%, respectively.

Banking stocks added to the rally, with Emirates NBD gaining 2.39% and Dubai Islamic Bank rising 0.43%.

Toll-gate operator Salik lost 0.96%, while utility provider DEWA gained 1.1%. Food delivery platform talabat rose 4.15% to close at Dh1.13.

Sharjah-based airline Air Arabia lost 1.6%, while telecom operator du remained unchanged at Dh12.5.

UAE markets demonstrated resilience on Monday, with both Abu Dhabi and Dubai recording gains despite continued uncertainty surrounding regional developments, Milad Azar, Market Analyst at XTB MENA, said.

“The banking sector provided solid support, while ADNOC-related stocks benefited from positive sentiment around ADIPEC and new energy investment announcements,” Azar said.

However, investors remained selective, suggesting a cautious improvement in confidence rather than a broad shift towards risk-taking, he added.

Dubai outperformed Abu Dhabi, supported by strong performances from Emaar Development, Emirates NBD and talabat, Azar said.

“Going forward, market direction will depend largely on geopolitical developments, oil market stability and corporate fundamentals,” he concluded.