Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets reported muted trading amid uncertainty over the US Federal Reserve’s policy outlook and declining crude prices.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) edged down 0.269% to close at 9,953.10, extending its decline to a fourth consecutive session.
Trading remained active, with 16,729 trades involving 233 million shares and a total value of Dh895 million. Total market capitalisation of ADX-listed stocks stood at Dh3.136 trillion.
Most blue-chip stocks ended in the red, with ADNOC Drilling declining 2.41% and Aldar falling 2.31%.
Among the major gainers, Orascom Construction rose 4.8%, while NMDC gained 2.58%. Dana Gas advanced 1.43% and ADNOC Distribution was up 0.76%. First Abu Dhabi Bank posted modest gains of 0.36%.
AD Ports rose 0.65% after it signed an agreement with Tajikistan’s AVESTO Group to form a joint venture offering integrated logistics and freight-forwarding services across the country.
Meanwhile, 2PointZero Group announced the full acquisition of Maseera, in which it previously held a 95% stake. The Egyptian founder and chief executive exited the company after selling his remaining 5% stake to a 2PointZero subsidiary.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) slipped by a marginal 0.01% to close at 6,109.45. The session recorded 10,585 trades, with 161 million shares traded at a total value of Dh459 million. Market breadth showed 24 gainers, 21 decliners and seven unchanged stocks.
Emirates NBD was the standout performer, rising 1.36% on a day when the DFM’s main index was largely flat. ALEC Holdings gained 1.36%, while real estate developer Deyaar added 0.95%. Another notable gainer was Al Mal Capital REIT, which surged 5.61%.
A wait-and-watch approach adopted by investors appears to have dampened activity across the UAE stock markets.
