Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets showed no signs of slowing on Wednesday, with both exchanges posting solid gains over optimism on corporate earnings.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) rose 0.668% to close at 10,542.48. Trading remained active, with 33,342 trades involving 477 million shares and a total value of Dh2.10 billion. Total market capitalisation of ADX-listed stocks stood at Dh3.200 trillion.
As has been the case on most days, banking heavyweights led the rally. Abu Dhabi Islamic Bank gained 3.48%, while Abu Dhabi Commercial Bank added 2.72%. First Abu Dhabi Bank also recorded an uptick of 0.81%.
Among ADNOC-listed stocks, ADNOC Gas rose 1.37% and ADNOC Drilling gained 0.75%. Borouge advanced 0.38% after reporting a net profit of $1.1 billion for 2025.
Property major Aldar edged up 0.2% after announcing that it had awarded Dh66 billion worth of projects in 2025. Holding company 2PointZero Group gained 2.7% on a day when most blue-chip stocks ended in positive territory.
On the downside, retailer Lulu fell nearly 1% to close at Dh1.09. United Arab Bank was another prominent decliner, shedding 4.2%.
In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.735% to close at 6,662.12. The session recorded 16,572 trades, with 301 million shares changing hands for a total value of Dh1.13 billion. Market breadth showed 31 gainers, 15 decliners and seven unchanged stocks.
Emirates NBD and telecom company du led the DFM rally, gaining 3.07% and 1.4%, respectively. Realty player Deyaar outperformed Emaar with a rise of 1.87%, while Emaar Development declined 3.49%, bucking the recent trend of continuous gains.
Talabat showed some traction, rising 1.6%. Free zone operator TECOM climbed 4.1% after reporting a 20% year-on-year increase in net profit. Mashreq Bank gained 3.27%, though it did not feature among the most actively traded stocks. Road toll operator Salik declined 0.75%.
Commenting on Wednesday’s trading, Milad Azar, Market Analyst at XTB MENA, said UAE equities extended their upward momentum, supported by strong liquidity and broad-based buying in heavyweight stocks.
“In Abu Dhabi, gains were driven mainly by banking leaders and selective strength in energy-linked names, while positive corporate earnings and large project awards helped reinforce investor confidence,” Azar said.
Dubai followed a similar trend, with banks, telecoms and select real estate stocks underpinning the advance. “Solid profit growth at TECOM added to optimism, although some profit-taking in previously outperforming stocks highlighted a more selective, fundamentals-driven rally,” he added.
Analysing the session from a geopolitical perspective, Adam Vettese, Market Analyst at eToro, said the UAE market rally was also supported by firmer oil prices following a larger-than-expected drawdown in US crude inventories.
“Oil prices were further underpinned by rising geopolitical tensions after reports that the US shot down an Iranian drone in the Strait of Hormuz,” Vettese said, adding that upbeat corporate earnings also contributed to the rally in the UAE markets.
