Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets saw a volatile trading on the first business day of the new year with Abu Dhabi and Dubai indices registering declines.
Abu Dhabi Securities Exchange’s (ADX) general index — FADGI — was down by 1.030%, reaching 9,322.02 points. A total of 17,062 trades were recorded, involving 267 million shares with a combined value of Dh850 million.
ADNOC Drilling, which saw a rise of 1.31%, was the only silver lining on a day when most premium stocks, including International Holding Company, Alpha Dhabi, Multiply, and Aldar, experienced a decline in their share prices
The total market capitalisation of all companies listed on the ADX reached Dh2.949 trillion.
Out of the 85 companies traded at the ADX, share prices of 32 companies rose, while 41 declined, and 12 remained unchanged.
Top gainers included Gulf Medical Projects (+7.14%), Abu Dhabi National Takaful (+6.86%), National Co. for Building Materials (+6.48), and Eshraq Investments (+3.85%), while notable losers were Waha Capital (-9.77%), Taqa (-8.83%) and Hayah Insurance (-4.46%).
DFM
The Dubai Financial Market’s (DFM) general index (DFMGI) was down by 0.104% to reach 5153.33.
Emirates NBD and Emaar’s fall dragged down the index, which had been on a rise in the run-up to the new year.
A total of 12,431 trades were executed at the DFM, involving 260 million shares with a combined value of Dh470 million.
The prices of 16 companies rose, while 27 declined, and 10 remained unchanged.
Among the top gainers were Shuaa Capital (+14.50%), Aman Insurance (+6.36%) and Emirates REIT (+7.28%). The most notable losers included National International Holding (-6.66%), Dubai National Insurance (-3.92%) and Mazaya Holding (-3.84%).
Elsewhere in the Gulf, Saudi Arabia's benchmark index (.TASI) edged 0.2% higher, led by a 3.5% rise in Al Rajhi Bank and a 3.7% increase in Elm Company.
The Saudi bourse continued its upward trend, supported by robust fundamentals and positive growth prospects as investors eagerly await the upcoming fourth-quarter earnings announcements, said George Pavel, General Manager at Naga.com.
Outside the Gulf, Egypt's blue-chip index (.EGX30) advanced 1.1%, as most of its constituents were in positive territory including Commercial International Bank, which was up 0.8%.
