Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets made gains for the second consecutive day on Wednesday even as the uncertainty sparked by global tariff wars continues.
The Abu Dhabi Securities Exchange’s (ADX) general index (FADGI) was up by a decent 0.326%, reaching 9,642.93 points.
A total of 23,979 trades were recorded, involving 331 million shares with a combined value of Dh1.192 billion. The total market capitalisation of all companies listed on the ADX reached Dh2.975 trillion.
Top gainers included Emirates Insurance (+13.57%), Fujairah Cement (+7.82%), Phoenix Group (+6.39%) and Hayah Insurance (+4.60%), while notable losers were Union Insurance (-9.87%), National Takaful (-8.76%) and E7 Warrants (-4.44%).
The index closed higher, led by a 2.4% leap in e& as the telecom group reported Dh10.8 billion in net profit in 2024. The group agreed to sell its 40% stake in Khazna Data Center Holdings for $2.2 billion.
DFM
DFM’s general index (DFMGI) is up by 0.179% to reach 5351.98.
A total of 12,561 trades were executed at the DFM, involving 157 million shares with a combined value of Dh556 million. The prices of 22 companies rose, while 19 declined, and 13 remained unchanged.
Among the top gainers were Dubai Insurance (+14.16%), National International Holding (+12.92%) and Al Salam Bank (+4.83%). The most notable losers included Union Cooperative (-2.85%), Salik (-2.63%), Emaar Development (-2.27%) and Shuaa Capital (-2.20%).
Dubai's main share index edged higher by a 2.1% gain in Emirates NBD, after Dubai's top lender on Tuesday made a mandatory cash offer to buy Emirates Islamic Bank at Dh11.95 per share.
