Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets witnessed muted trading on Wednesday as investors exercised caution after two consecutive days of gains.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) fell 0.194% to close at 10,038.30. Trading remained active, with 11,289 trades involving 171 million shares and a total value of Dh827 million. Total market capitalisation of ADX-listed stocks stood at Dh3.160 trillion.
Orascom Construction saw its share price rise by 2.97%. Alpha Dhabi and ADNOC (Logistics and Services) recorded marginal gains of 0.32% and 0.17%, respectively. Banking stocks Abu Dhabi Commercial Bank, First Abu Dhabi Bank and Abu Dhabi Islamic Bank fell 1.07%, 0.34% and 0.1%, respectively.
Waha Capital said it proposes to buy back 10% of the company’s issued share capital. The programme will be executed through open-market transactions in accordance with regulations, the company said. Waha Capital is an investment management company with a market capitalisation of Dh3.33 billion.
Modon, a listed company on the Growth Market, said it is divesting its full indirect investment in Icon Hotel Investment Ltd to Abu Dhabi Developmental Holding Company (ADQ).
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) edged up 0.036% to close at 6,164.03. The session recorded 9,216 trades, with 169 million shares traded at a total value of Dh478 million. Market breadth showed 21 gainers, 24 decliners and eight unchanged stocks.
Gulf Navigation rose 4.25% and remained the most traded stock in terms of both value and volume. Food delivery app Talabat, which has been facing some pressure in the stock market, gained 1.74%. Realty giant Emaar was up 0.7%.
Among the prominent decliners, Deyaar lost 1.95% and Al Mal Capital REIT slipped 2.65%.
