A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets extended their gains on Wednesday amid growing hopes for a lasting resolution to regional tensions.
The ADX General Index (FADGI) rose 0.306% to close at 9,585.06. The session recorded 40,578 trades involving 474 million shares worth Dh2.3 billion. The total market capitalisation of ADX-listed companies stood at Dh2.521 trillion.
Eight million ADNOC Gas shares worth Dh27 million changed hands in 11 bulk transactions, according to an ADX update.
Among banks, Abu Dhabi Islamic Bank climbed 4.69%, while Abu Dhabi Commercial Bank remained unchanged at Dh17.30. First Abu Dhabi Bank slipped 0.1%.
ADNOC-linked stocks were mixed. ADNOC Logistics and Services gained 3.23% and ADNOC Drilling added 0.52%, while ADNOC Distribution fell 0.51%. ADNOC Gas remained unchanged at Dh3.39. Fertiglobe dropped 0.89%, while Borouge held steady at Dh2.29.
Property developer Aldar rose 2.37%. Among holding companies, 2PointZero fell 1.43% to Dh2.07, while Alpha Dhabi slipped 1.93% to Dh7.12.
Telecom operator etisalat extended its recent gains, rising 2.66% to Dh22.36. Presight gained 2.33% after reporting a 23.5% year-on-year rise in nine-month net profit to Dh395.2 million.
In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.827% to close at 6,221.23. The session recorded 22,775 trades involving 582 million shares worth Dh1.26 billion. Market breadth was positive, with 28 gainers and 15 decliners, while eight stocks remained unchanged.
DIP Holding made its DFM debut, closing at Dh1.18, up 5.36% from its initial public offering (IPO) price of Dh1.12. The Dh1.9 billion offering, the UAE’s first IPO of 2026, was subscribed multiple times.
DIP Holding owns the operator of Dubai Investments Park, a 23 million square metre development that provides long-term ground leases and infrastructure services for businesses.
Emaar Properties gained 0.31%. Its subsidiary Emaar Development rose 0.27% to Dh14.70, below the Dh15 per share that Emaar Properties has offered for the shares it does not already own.
Banking stocks were mixed, with Emirates NBD rising 4.32% and Dubai Islamic Bank slipping 0.26%.
Telecom operator du rose 1.72% to Dh13, while parking operator Parkin advanced 1.99%. Food delivery platform talabat slipped 0.86%.
Investors are increasingly looking past lingering regional uncertainty and focusing on the prospects for recovery, said Sayed A, Chief Business Officer at Graystone Capital.
“[The] successful debut of DIP Holding on DFM suggests the IPO market is reopening and that investors are ready to commit new capital,” Sayed said.
He said Aldar’s recent gains supported the long-term investment case for UAE property, while developments in the US-Iran talks would continue to influence day-to-day trading.
Confidence in UAE equities is steadily returning, Sayed added. “The market is on solid ground: strong bank earnings, a revived IPO pipeline, major corporate deals and broad participation.”