Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets moved in opposite directions on Thursday, with Abu Dhabi rebounding after four consecutive sessions of losses, while Dubai ended the day lower.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) rose 0.480% to close at 10,000.88. Trading remained active, with 15,732 trades involving 227 million shares and a total value of Dh827 million. Total market capitalisation of ADX-listed stocks stood at Dh3.145 trillion.
Banking heavyweights Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) led the rally, gaining 2.65% and 1.54%, respectively. Borouge advanced 1.19% after its inclusion in the FTSE ADX Dividend Stars Index, while ADNOC Gas added 0.58%.
On the downside, United Arab Bank fell 7%, while Orascom Construction declined 3.39%.
“Blue-chip stocks, especially in the banking and energy sectors, led the gains as investors focused on companies with strong fundamentals and earnings stability,” Milad Azar, market analyst at XTB MENA, told Aletihad.
“Overall, the move higher reflects cautious optimism, with investors balancing global uncertainties against solid domestic fundamentals,” he said, adding that firm oil prices continued to provide an important backdrop of support for the market.
Sentiment in the energy sector was further supported after Abu Dhabi National Oil Company (ADNOC) secured $11 billion in structured financing to monetise future gas production from its Hail and Ghasha development.
Trading activity at ADX remained healthy, pointing to continued institutional participation. “In the near term, ADX performance will likely be influenced by global interest rate expectations and energy price trends, though supportive local conditions may help sustain market resilience,” Azar said.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) slipped 0.472% to close at 6,080.64. The session saw 10,420 trades, with 151 million shares changing hands for a total value of Dh403 million. Market breadth showed 15 gainers, 24 decliners and 13 unchanged stocks.
ALEC Holding was the standout performer, rising 2%. Air Arabia gained 0.84%, while Dubai Islamic Bank added 0.74%. Tecom Group climbed 2.5% after launching a Dh615 million innovation hub in Dubai Internet City to meet rising office-space demand.
Blue-chip stocks — Emaar Properties, Emaar Development and Emirates NBD — declined between 0.5% and 1%, weighing on the benchmark index.
