A. SREENIVASA REDDY (ABU DHABI)

UAE stock markets were subdued but broadly stable on Tuesday as the regional situation remained deadlocked amid a steady flow of positive and negative headlines.

The ADX General Index (FADGI) fell 0.293% to close at 9,462.91. The session recorded 21,942 transactions involving 219 million shares worth Dh1.034 billion.

The total market capitalisation of ADX-listed companies stood at Dh2.484 trillion.

Banking stocks remained resilient, with Abu Dhabi Islamic Bank advancing 0.5%. First Abu Dhabi Bank added 0.11%, while Abu Dhabi Commercial Bank slipped 0.13%.

ADNOC-linked stocks delivered a mixed performance as leaders of ADNOC companies announced new investments and projects at the ongoing ADIPEC. 
ADNOC Gas signed five-year LNG supply agreement with TotalEnergies at the event. ADNOC Logistics and Services advanced 2.19%, while ADNOC Gas gained 0.64%. ADNOC Drilling declined 1.35%, while ADNOC Distribution slipped 0.53%.

Fertiglobe lost 2.69%, while Borouge remained unchanged at Dh2.29. Real estate major Aldar remained unchanged at Dh7.7, while telecom operator etisalat slipped 2.17% to close at Dh20.74.

Among holding companies, Alpha Dhabi slipped 2.3% to close at Dh6.8, while 2PointZero gained 0.52% to close at Dh1.92.

Emirates Stallion Group continued its rally on the Growth Market, gaining 2.46%.

In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.052% to close at 5,810.86.

The session recorded 17,453 trades, with 212 million shares changing hands for a total value of Dh979 million. Market breadth was positive, with 20 gainers and 19 decliners, while seven stocks remained unchanged.

Real estate major Emaar Properties rose 2.44%, while its subsidiary Emaar Development surged 10.67% to Dh13.90 following a Bloomberg report that the parent company was considering buying out the subsidiary.

The potential transaction could be worth up to $3 billion, the agency reported. Emaar Development’s market capitalisation stood at Dh50.24 billion, according to the latest DFM data on Tuesday.

Banking stocks were subdued, with Emirates NBD losing 1.2%, while Dubai Islamic Bank remained unchanged at Dh7. Commercial Bank of Dubai declined 2.06%.

Toll-gate operator Salik gained 1.55%, while parking operator Parkin rose 0.32%. Utility provider DEWA slipped 2.2%.

Food delivery platform talabat built on the previous day’s gains with a rise of 0.44%. Telecom operator du slipped 3.68%.

Sharjah-based airline Air Arabia lost 1.01%, extending its decline as the regional situation continued to weigh on the travel industry.

UAE stock markets delivered a mixed but broadly stable performance on Tuesday, with Dubai edging higher while Abu Dhabi recorded a modest decline, Sayed A, Chief Business Officer at Graystone Capital, said.

“Investors continued to focus on corporate developments, sector-specific opportunities and the strong pipeline of business activity across the country’s listed companies,” Sayed said.

The varied performance of DFM-listed companies reflected stock-specific trading, with investors assessing individual corporate prospects and sector opportunities, he said.

“Dubai’s real estate sector stood out, supported by developments surrounding Emaar Development, while Abu Dhabi’s energy and logistics companies continued to attract attention during ADIPEC,” Sayed said.

Overall, Tuesday’s session demonstrated the resilience and diversity of the UAE’s capital markets, he added. “While the two benchmarks moved in different directions, trading remained active and several prominent companies attracted positive investor interest.”

Looking ahead, corporate earnings, business expansion, new partnerships and sector-specific developments are likely to remain important drivers of market activity, Sayed concluded.