Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets ended Thursday’s session largely flat, posting marginal gains after several days of strong positive trading, even as global markets remained under pressure.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) edged up 0.048% to close at 10,547.49. Trading activity remained healthy, with 25,251 trades involving 400 million shares valued at Dh1.52 billion. Total market capitalisation of ADX-listed stocks stood at Dh3.916 trillion.
Most blue-chip stocks traded in a narrow range, recording only modest gains or losses. Abu Dhabi Islamic Bank rose 0.15%, while Abu Dhabi Commercial Bank declined 1%. First Abu Dhabi Bank slipped 0.1%. Holding companies 2PointZero Group and Alpha Dhabi posted losses of 1.32% and 0.01%, respectively.
Among ADNOC-listed companies, ADNOC Drilling recorded a marginal gain of 0.19%, while ADNOC Distribution and ADNOC Logistics and Services fell 0.05% and 0.18%, respectively.
Property major Aldar Properties performed relatively better, rising close to 0.4%. Agility Global, the multi-sector investor, surged 5.88%. NMDC Group declined 2.59% despite reporting a 29% jump in net profit, surpassing the Dh4 billion mark.
ADX also reported one bulk transaction involving Gulf Medical Projects shares worth Dh52.5 million executed in a single deal.
In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.194% to close at 6,675.06. The session saw 16,735 trades, with 437 million shares changing hands for a total value of Dh945 million. Market breadth showed 23 gainers, 24 decliners and eight unchanged stocks.
Heavyweight stocks Emaar Properties, Emaar Development and Emirates NBD gained 0.63%, 2.78% and 1.49%, respectively, helping keep the index in positive territory. Sharjah-based carrier Air Arabia rose 1.37%, while real estate firm Deyaar slipped nearly 1% after rallying in recent sessions.
“UAE equity markets managed to pare early losses and close in positive territory, navigating a notably turbulent global backdrop,” said Adam Vettese, market analyst at eToro.
Commenting on the subdued trading, Vettese noted that the UAE’s main indices demonstrated resilience despite softer oil prices and a broader risk-off sentiment weighing on international markets.
The session underscored a divergence between regional fundamentals and global sentiment. “While global risk assets remain under pressure, investors selectively rotated into UAE names that had seen outsized declines in recent sessions, helping to support a late rebound in local indices,” Vettese explained.
He also pointed out that Al Khaleej Investments (KICO) surged nearly 10% ahead of its board meeting on Thursday, reflecting heightened speculative interest.
“Overall, the session highlighted the UAE market’s relative resilience amid elevated global volatility,” Vettese said.
