Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets extended their declines on Thursday as investors remained cautious amid an uncertain political backdrop.
The Abu Dhabi Securities Exchange (ADX) General Index (FADGI) edged down 0.398% to close at 10,595.29. Trading activity remained robust, with 22,237 trades involving 243 million shares valued at Dh1.365 billion. The total market capitalisation of ADX-listed stocks stood at Dh3.173 trillion.
Subdued trading weighed on most blue chips on the ADX. Holding company Alpha Dhabi fell 0.43%, while 2PointZero declined 0.49%.
Banking stocks showed a mixed trend. First Abu Dhabi Bank declined 1.66%, while Abu Dhabi Commercial Bank gained 0.39% and Abu Dhabi Islamic Bank remained flat.
Energy stocks also displayed a mixed pattern. ADNOC Gas, the most traded stock on the ADX, closed flat. ADNOC Distribution lost 0.25%, ADNOC Logistics and Services added 0.55%, and ADNOC Drilling slipped 0.57%. Fertiglobe fell 1.11%, while Borouge remained flat.
Property major Aldar declined 0.36%. Abu Dhabi National Hotels, which had surged following its recent results, fell 1.85%. Lulu Retail gained momentum, rising nearly 2%.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) fell 0.763% to close at 6,624.93. The session recorded 15,349 trades, with 184 million shares traded for a total value of Dh752 million. Market breadth showed 17 gainers, 27 decliners and 12 unchanged stocks.
Property heavyweights Emaar and Emaar Developments weighed on the index, falling 1.17% and 2.4%, respectively. Emirates NBD also contributed to the decline, dropping more than 4%, while Dubai Islamic Bank remained flat. Other active stocks, including Air Arabia and Salik, declined by less than 1%.
Talabat bucked its recent downward trend to register a gain of more than 3%. Parkin, which reported a more than 48% rise in net profit in 2025 to Dh626 million, fell more than 1%, as the prevailing market mood prevailed.
“Sentiment remains cautious, with geopolitical uncertainty weighing on risk appetite across the Gulf,” observed Adam Vettese, Market Analyst at eToro.
Analysing overall trading in local markets, Vettese said utilities stocks staged a modest recovery after recent weakness, offering some defensive support to the broader market.
“In contrast, finance and telecom names were among the biggest laggards, reflecting ongoing pressure on earnings expectations and limited near-term catalysts,” he added.
On the DFM, food delivery platform Talabat was among the standout performers, rising 3%. “The rebound follows a particularly weak stretch after the company’s results earlier this month, with bargain hunters stepping in at lower levels,” Vettese said.
