Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Abu Dhabi Securities Exchange (ADX) made a strong comeback after a few days of lacklustre trading with its main index — FADGI — seeing a rise of 1.181% in Thursday trading.
September is said to be historically volatile month for securities market with the first few days seeing massive selloff despite the impending US rate cuts. But the global markets recovered from the tumble on Thursday with many stocks regaining their lost value.
The general index of ADX saw unusual rise of more than 1% to reach 9477.34 points. It reported a total of 23,094 trades involving 308 million shares with a total value of Dh1.28 billion.
The trading session saw prices of 42 companies rise, while 18 companies experienced a decline. Additionally, 16 companies closed unchanged compared to their previous closing prices. The market capitalisation of listed companies at ADX reached Dh2.862 trillion.
International Holding Company, ADNOC Drilling and Abu Dhabi Commercial Bank and ADPorts are among the gainers while Foodco National, GHITHA Group, RAK Properties and ADNOC Logistics & Services are among those who saw their share prices fall.
In the Dubai Financial Market (DFM), the general index (DFMGI) was up by 0.144% to close at 4,371.04 points. The trading session witnessed 9,651 trades involving 168 million shares with a total value of Dh354 million.
The trading session saw prices of 20 companies rise, while 19 companies experienced a decline. Additionally, 10 companies closed unchanged.
Emaar Properties, Dubai Taxi Company, and International Financial Advisor are among the gainers while National General Insurance Company, National International Holding Company and Watania Holding are among those who experienced declines.
Elsewhere in the region, Saudi Arabia's benchmark index (TASI) dropped 0.2%, with Al Rajhi Bank losing 0.3%. Separately, the kingdom's Fourth Milling Company (MC4) said on Thursday it planned an initial public offering on its local stock exchange, adding to a string of listings in the Gulf country.
Outside the Gulf, Egypt's blue-chip index (EGX30) added 0.1%, supported by a 0.5% rise in top lender Commercial International Bank.
