Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets ended in positive territory on Thursday after showing a tendency to ease during the first few hours of trading.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) edged up 0.322% to close at 10,688.55. Trading activity remained strong, with 22,879 trades involving 314 million shares valued at Dh1.399 billion. Total market capitalisation of ADX-listed stocks stood at Dh3.233 trillion.
Realty giant Aldar led the ADX rally, rising 5.5% and extending its bullish run following the recent annual results. Americana Restaurants, a franchise operator of branded restaurants, gained 5.26%.
Among banking stocks, Abu Dhabi Islamic Bank rose 2.46%, while Abu Dhabi Commercial Bank gained 0.65% and First Abu Dhabi Bank remained flat.
Among ADNOC stocks, Fertiglobe declined 3.17%, ADNOC Logistics and Services slipped 0.87% and ADNOC Gas fell 0.55%. ADNOC Distribution bucked the trend, gaining 0.74%.
“ADNOC Drilling underperformed after releasing quarterly results. Shares eased 0.73% as profit missed expectations, tempering energy sector gains,” Adam Vettese, Market Analyst at eToro, said.
Gulf Pharmaceutical Industries (Julphar) also dipped 0.8% despite posting higher revenues and EBITDA.
“The muted share price reaction likely reflects the one-off nature of a large portion of earnings and cautious forward expectations, rather than weakness in the core business,” Vettese said.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) gained 0.424% to close at 6,714.6. The session recorded 14,439 trades, with 204 million shares changing hands for a total value of Dh654 million. Market breadth showed 26 gainers, 20 decliners and eight unchanged stocks.
Emirates NBD rose 2.45%, while Dubai Islamic Bank gained nearly 1% after falling 8.6% on Wednesday. Utility provider DEWA was up nearly 1%. ALEC Holding was among the biggest gainers, rising 5.73%.
Realty stock Emaar fell 0.61%, while Deyaar declined 3.64% following its annual results.
“Insurance House continued its strong rally for a second day, surging around 15% after upbeat results, as investor sentiment improved in select financials on signs of operational turnaround,” Vettese said.
Commenting on overall trading, Milad Azar, Market Analyst at XTB MENA, said: “UAE markets closed higher despite early weakness, reflecting resilient investor sentiment and selective sector rotation.”
Azar noted that gains were driven by Aldar and Emirates NBD, while mixed performance among ADNOC names capped broader upside.
“Overall liquidity remains healthy, signaling sustained institutional participation,” he added.
