Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
The UAE stock markets saw strong positive trading on Thursday as the positive momentum generated by Donald Trump’s victory in the US elections continues.
The general index of the Abu Dhabi Securities Exchange (ADX), known as FADGI, rose by 0.438%, reaching 9,466.22 points.
A total of 21,849 trades were reported, involving 477 million shares with a combined value of Dh1.71 billion. The market capitalisation of all companies listed on ADX reached Dh2.923 trillion, nearing the Dh3 trillion milestone.
The ADX also reported three bulk trades worth Dh466.88 million, involving over 129 million shares of Modon Holding. In total, share prices of 30 companies rose, while 39 companies declined, and 14 remained unchanged from their previous closing prices.
Invictus Investment (+4.37%), Alpha Dhabi Holding (+3.76%), Agility Global (+2.33%) and ADCB (+2.26) were among the prominent gainers. Abu Dhabi National Takaful (-9.94%), Al Khaleej Investment (-7.56%), Aram Group (-5.75%), and QIC(-3.81%) were among the day’s notable losers.
In the Dubai Financial Market (DFM), the general index (DFMGI) increased by 0.604%, closing at 4,644.17 points.
The trading session saw 11,293 trades, involving 262 million shares with a total value of Dh452 million. Prices of 24 companies rose, while 22 declined, and six closed unchanged.
Dubai Refreshment Company (+14.99%), National Cement Company (+10.42%), National International Holding (+6.51%) and Commercial Bank of Dubai (+6.2) were among the top gainers. BHM Capital (-5.26%), DTC (-4.12%), Takaful-Emirates (-3.84%), Al Salam Sudan (-3.44%), Emirates NBD (-2.3%) and DTC (-4.12) saw declines.
Dubai real estate company Deyaar shares spiked 4.1% on DFM following its strong Q3 and nine-month performance reports. Profits for the first nine months amounted to Dh348.8 million, marking a 47% year-on-year increase from Dh237.5 million in 2023. Q3 2024 profit reached Dh146.2 million, a 23% YoY increase from Dh119 million in Q3 2023. Deyaar has timed its financial results with the launch of its first project, RIVAGE, on Abu Dhabi’s Al Reem Island, in collaboration with Arady Properties.
