Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets made a strong comeback on Wednesday as both Abu Dhabi and Dubai bourses advanced more than 1%, buoyed by renewed investor activity following the four-day Eid Al Etihad break.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) climbed 1.274% to 9,871.32. Trading activity was robust, with 25,744 trades executed involving 410 million shares and a combined value of Dh1.434 billion. Total market capitalisation on ADX reached Dh3.095 trillion.
United Arab Bank (UAB) surged 10%, emerging as one of the most actively traded stocks by both value and volume. Abu Dhabi Commercial Bank rose 4.5%, while ADNOC Drilling gained 3.25%. ADNOC Gas advanced 2.45%, and ADNOC Distribution increased 1.55%. The recently rebranded 2PointZero also continued its upward movement, rising nearly 2% to Dh2.61, matching the level at which it last traded under the Multiply name.
International Holding Company (IHC) announced the completion of its Dh5 billion share buyback programme, carried out over more than a year. Its shares closed at Dh399.50 on Wednesday.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) recorded a notable 1.195% jump to 5,906.64, beginning what investors hope will be a renewed push toward reclaiming the 6,000-point threshold.
DFM logged 16,042 trades, with 231 million shares changing hands at a total value of Dh645 million. Market breadth showed 22 gainers, 18 decliners, and 11 unchanged stocks.
Emirates NBD led the rally with a 3.48% rise, while Salik advanced 3.66%. Emaar gained 1.88%, and Dubai Islamic Bank added 1.64%. Meanwhile, Talabat remained under pressure, slipping 0.65% to Dh0.92.
