Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The main index of the Abu Dhabi Securities Exchange (ADX) remained relatively resilient on Monday with only a minimal loss amid strong selling pressure, even as the Dubai Financial Market (DFM) continued its decline with no visible improvement in the prevailing geopolitical situation.
The ADX General Index (FADGI) fell 0.187% to close at 9,462.36. Trading activity remained robust, with 30,651 trades involving 1.61 billion shares valued at Dh2.33 billion.
The total market capitalisation of ADX-listed stocks stood at Dh2.85 trillion. More than Dh1 billion worth of Dana Gas shares were sold in a single bulk transaction.
It was a day of mixed trading, with some big names such as First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB) and ADNOC Drilling posting gains, while several other major stocks continued to decline.
Among banking stocks, FAB and ADCB recorded gains of 3.57% and 2.44%, respectively, while Abu Dhabi Islamic Bank and RAK Bank lost almost 5%, the maximum decline permitted under the prevailing regulations.
Holding companies Alpha Dhabi and 2PointZero Group fell 4.92% and 4.07%, respectively.
It was also a mixed day for ADNOC companies. ADNOC Drilling gained 2.08%, while ADNOC Gas was up nearly 1%. ADNOC Distribution lost 2.74%, while ADNOC Logistics and Services slipped 2.94%.
Fertiglobe fell 1.7% and Borouge declined nearly 2%. Presight, the AI arm of G42, was also among the gainers with an increase of nearly 3%.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) fell 2.535% to close at 5,288.7. The session recorded 27,097 trades, with 221 million shares traded for a total value of Dh1.06 billion.
Market breadth showed 6 gainers, 42 decliners and four unchanged stocks. Real estate giants Emaar and Emaar Development continued their downward trajectory, each falling nearly 5%. Banking major Emirates NBD remained relatively resilient with a decline of 1.67%, while Dubai Islamic Bank lost nearly 3%. Mashreq Bank fell nearly 5%. Road toll operator Salik lost 1.52%.
DFM, the listed company, managed to gain 1.37% amid the overall declining trend, while utility provider DEWA gained 0.4%.
“UAE equities extended their recent decline as geopolitical tensions continued to dominate investor sentiment,” said Adam Vettese, Market Analyst at eToro.
Analysing the trend, Vettese said: “The sell-off reflects a broader shift toward defensive positioning as regional investors react to rising geopolitical uncertainty.”
Abu Dhabi proved more resilient, with banking stocks providing support, Vettese said.
The Dubai index is now more than 20% lower over the past month, while Abu Dhabi has slipped roughly 12%.
“While valuations may begin to appear attractive, volatility is likely to persist until clearer signs of regional stability emerge,” Vettese said.
