Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets continued their decline on Tuesday amid what international reports described as concerns over a potential oversupply in the oil sector.
The Abu Dhabi Securities Exchange’s (ADX) General Index (FADGI) fell 0.109% to 9,761.30. A total of 22,095 trades were executed, involving 441 million shares with a combined value of Dh1.38 billion. The total market capitalisation on ADX stood at Dh3.077 trillion.
Presight, a G42 company, gained 4.5%, with its share price rising to Dh3.010. The stock has seen renewed momentum following the US decision to allow the supply of Nvidia chips to G42. 2PointZero Group remained one of the most traded stocks by volume, though its price dipped 0.37%.
First Abu Dhabi Bank and ADNOC Drilling each advanced by more than 1%, while Aldar fell nearly 1%. Bitcoin miner Phoenix Group continued to face pressure in the market, with its shares dropping 4.7% to Dh1.02.
Over in Dubai, the Dubai Financial Market’s (DFM) General Index (DFMGI) slipped 0.135% to close at 5,822.99, a marginal decline from Monday. The index has traded well below the 6,000 mark for more than a week, underlining a pronounced bearish trend across UAE markets.
The DFM session recorded 11,294 trades, totalling 170 million shares worth Dh484 million. Twelve companies advanced, 31 declined and 11 remained unchanged.
Sharjah carrier Air Arabia rose nearly 3.5%, while Dubai Islamic Bank added 1%. Property major Emaar and DEWA each fell by more than 1%.
