Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets declined on Monday — albeit marginally —amid weak global sentiment and continued uncertainty over potential US rate cuts.
The Abu Dhabi Securities Exchange’s (ADX) General Index (FADGI) fell 0.240% to 9,771.91, marking a notable drop given that the index was trading well above the 10,000 mark only weeks ago. A total of 27,893 trades were executed, involving 691 million shares with a record combined value of Dh2.82 billion. The total market capitalisation on ADX stood at Dh3.078 trillion.
The newly created entity emerging from the former Multiply Group, 2PointZero, continued its strong momentum, rising 4.22% to Dh2.72. Its market capitalisation has now reached Dh94 billion, and it remained one of the most actively traded stocks in terms of value.
ADNOC L&S gained 1.44%. Among the prominent decliners were Alpha Dhabi (-3.51%), First Abu Dhabi Bank (-1.50%), Abu Dhabi Commercial Bank (-1.44%) and Aldar (-1.07%).
Over in Dubai, the Dubai Financial Market’s (DFM) General Index (DFMGI) fell 0.81% to close at 5,830.85. The session saw 10,236 trades totalling 183 million shares worth Dh825 million. Nineteen companies advanced, another 19 declined, while 11 remained unchanged.
Most prominent stocks traded flat as investors adopted a wait-and-watch approach. Dubai Residential REIT rose 4.1%, while Emirates NBD added 0.41%. Dubai Islamic Bank slipped 1.62% and Salik recorded a marginal decline of 0.34%.
