Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Abu Dhabi stock market made gains on Wednesday for third consecutive day as ADNOC Logistics and Services rose 4.5% after its decision to acquire Navig8 for $1.4 billion. Navig8 is an international shipping pool operator with a fleet of 32 tankers and a presence in 15 cities.
Abu Dhabi Securities Exchange’s (ADX) general index — FADGI — was up by 0.281%, reaching 9,465.80 points. A total of 23,091 trades were recorded, involving 356 million shares with a combined value of Dh1.439 billion.
The total market capitalisation of all companies listed on the ADX reached Dh2.971 trillion. Out of the 94 companies traded at the ADX, share prices of 43 companies rose, while 29 declined, and 22 remained unchanged.
Top gainers included Presight (+4.65%), ADNOC L&S (+4.50%), National Co.for Building Materials (+4.46%) and Fujairah Cement (+4.44%), while notable losers were National Takaful (-10%), RAPCO Investment (-7.65%) and Aram Group (-6.45%).
DFM
The Dubai Financial Market’s (DFM) general index (DFMGI) was down by 0.088% to reach 5209.93, after two consecutive days of positive trading.
A total of 14,010 trades were executed at the DFM, involving 311 million shares with a combined value of Dh679 million.
The prices of 19 companies rose, while 21 declined, and 11 remained unchanged.
Among the top gainers were National International Holding (+4.5%), Union Properties (+3.89%) and Chimera S&P UAE Shariah ETF (+3.81%). The most notable losers included Dubai National Insurance (-5.96%), Al Mal Capital REIT (-4.35%), Shuaa Investment (-4.08%) and Salik (-2.94%).
The recently listed companies Lulu Retail and Talabat, which had made tame debut at ADX and DFM, respectively, are surging to regain their value. Lulu rose by 2.2% to end the day at Dh1.99. Talabat surged by 3.8% to reach Dh1.64.
