Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
A wait-and-watch approach by investors appeared to persist ahead of the New Year, as the UAE stock markets reported marginal gains on Monday.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) rose 0.283% to close at 10,061.27. Trading remained active, with 15,277 trades involving 814 million shares and a total value of Dh2.59 billion. The value of the day’s trading was boosted by two bulk transactions.
Shares of 2PointZero worth nearly Dh1.5 billion were traded in a single transaction at Dh2.69. This represented more than 1.5% of the company’s total market capitalisation, which stood at Dh92.63 billion at the close of trading on Monday. In the second bulk transaction, Al Seer Marine shares worth Dh141 million were sold at Dh2.82. The shares traded accounted for more than 5% of the company’s total market capitalisation of Dh2.8 billion.
The total market capitalisation of ADX-listed stocks stood at Dh3.171 trillion.
Among banking stocks, Abu Dhabi Islamic Bank rose 1.64%, followed by First Abu Dhabi Bank, which gained 1.25%, and Abu Dhabi Commercial Bank, which added nearly 1%. In the energy sector, ADNOC (Logistics and Services) rose 0.85% and ADNOC Drilling gained 0.74%, while ADNOC Gas slipped 0.57%. Shares of 2PointZero declined 0.37% following the bulk transaction.
In Dubai, the Dubai Financial Market General Index (DFMGI) edged up 0.051% to close at 6,137.33. The session recorded 9,425 trades, with 158 million shares changing hands for a total value of Dh314 million. Market breadth showed 24 gainers, 17 decliners and 11 unchanged stocks.
Most blue-chip stocks traded flat, registering only marginal gains or losses. Emaar Development rose nearly 1%, while its sister company Emaar Properties closed flat. Emirates NBD was the prominent loser, declining by more than 1%.
