Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Abu Dhabi and Dubai's stock markets experienced significant gains on Monday, following a positive global market sentiment driven by anticipation of an impending interest rate cut by the US Federal Reserve. This surge comes after a week of relatively subdued trading due to regional geopolitical tensions.
The general index of Abu Dhabi Securities Exchange (ADX) —FADGI — was up by an impressive 0.84% to close at 9,363.04 points. It reported a total of 21,212 trades involving 240 million shares with a total value of Dh1.09 billion.
The trading session saw prices of 35 companies rise, while 36 companies experienced a decline. Additionally, nine companies closed unchanged compared to their previous closing prices. The market capitalisation of listed companies at ADX reached Dh2.829 trillion.
NMDC Group, Gulf Medical Projects Company, Al Khaleej Investment and Abu Dhabi National Company for Building Materials are among the gainers while Response Plus Holding, Al Ain Alahlia Insurance, ESG and Emirates Stallions Group are among those who saw their share prices fall.
In the Dubai Financial Market (DFM), the general index (DFMGI) rose by 0.724% to close at 4,356 points. The trading session witnessed 10,603 trades involving 198 million shares with a total value of Dh396 million.
The trading session saw prices of 23 companies rise, while 16 companies experienced a decline. Additionally, 10 companies closed unchanged.
Salama Insurance, Emaar and EmiratesNBD are among the gainers while National International Holding Company, Al Ramz Corporation Investment and Development, Empower are among those who experienced declines.
Elsewhere in the Gulf, the Qatari benchmark (QSI) advanced 1.1%, as most of its constituents were in positive territory including Qatar Islamic Bank, which finished 2.6% higher. Saudi Arabia's benchmark index, however, eased 0.2%, hit by a 1% fall in aluminium products manufacturer Al Taiseer Group.
