A. SREENIVASA REDDY (ABU DHABI)
Mojo returned to the UAE stock markets on Tuesday after US President Donald Trump declared a ceasefire between Iran and Israel.
The Abu Dhabi Securities Exchange’s general index (FADGI) surged by 2.487% to close at 9,795.30, pushing the market capitalisation to Dh3.047 trillion. This marks one of the largest single-day gains for the index in recent times.
Leading the rally on ADX was Aldar, which rose by 10%, followed by Multiply Group with a 6.5% increase, Abu Dhabi Commercial Bank with 6.3%, and Abu Dhabi Islamic Bank with 5.9%. Other major gainers included E7 Warrants (+14.47%), Phoenix Group (+14.29%), and Sharjah Cement (+11.61%). On the downside, Gulf Medical Projects declined by 1.30% and Abu Dhabi Ship Building fell by 1.25%.
The Dubai Financial Market also saw strong upward movement, with its main index (DFMGI) rising by 3.36% to reach 5,593.01 — its biggest intraday gain since mid-December. DFM’s surge was led by over 5% increases in the share prices of blue-chip stocks such as Emaar, Salik, and Emirates NBD. Air Arabia gained 7.8%, while Dubai Islamic Bank advanced by 4%.
Other notable gainers on Tuesday included National Cements (+8.78%), Emirates Reem Investments (+7.8%), and Dubai National Insurance and Reinsurance (+6.7%). Among the laggards were International Financial Advisors (-10%), Dubai Refreshment (-9.8%), Spinneys (-1.34%), and Ithmaar Holding (-4.17%).
The ceasefire announcement between Iran and Israel triggered a wave of optimism across regional markets. “This broad-based rebound reflects investors’ positive reaction to signs of geopolitical de-escalation, with hopes that the ceasefire will bring stability and renewed confidence in regional equity markets,” said Milad Azar, market analyst at XTB MENA.