Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Abu Dhabi and Dubai stock exchanges registered gains amid volatility in the global markets. Abu Dhabi Stock Market’s (ADX’s) main index FADGI gained 1.1% to reach 9,179 points. Among the top gainers were NMDC, Agthia group, Bayanat and Yahsat. A total of 23,467 transactions worth Dh1.28 billion were conducted at ADX on a busy day.
Dubai Financial Market’s (DFM’s) main share index DFMGI advanced 1.5% to 4197 points, led by a 2.9% rise in developer Emaar Properties. Unikai Foods, Amlak Finance, Agility Logistics and Amanat were among the other leading beneficiaries. Almak Finance’s shares registered an uptick after impressive first half results. Dubai's main airport is on track to handle a record number of passengers this year after an 8% year-on-year increase in the first six months.
Fears of a US recession triggered by persistent high-interest rates have cast a shadow over global markets, leading to significant sell-offs and wiping out billions of dollars in shareholder wealth. However, Wednesday's trading session witnessed a relative calm, with most Gulf markets registering gains. This sets the stage for a potential return to normalcy on the bourses.
