Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets traded in positive territory on Wednesday as signs emerged of easing geopolitical uncertainty.
The ADX General Index (FADGI) rose a strong 1.354% to close at 9,649.72. Trading activity remained robust, with 33,247 trades involving 732 million shares valued at Dh1.414 billion. The total market capitalisation of ADX-listed stocks stood at Dh2.793 trillion.
Banking stocks led the rally, with First Abu Dhabi Bank (FAB) rising nearly 6%. Abu Dhabi Commercial Bank (ADCB) gained 2.59%, while Abu Dhabi Islamic Bank (ADIB) rose nearly 1%. Holding companies 2PointZero and Alpha Dhabi advanced 3.13% and 1.3%, respectively.
ADNOC-listed companies also recorded gains, supporting the broader market rally. ADNOC Drilling rose 1.56% and ADNOC Distribution gained 0.26%, while ADNOC Gas edged down 0.31%. ADNOC Logistics and Services climbed 2.13%. Fertiglobe declined 0.32%, while Borouge added 0.39%.
Real estate major Aldar posted a gain of nearly 1%, while NMDC Energy emerged as a major gainer with an uptick of 8.4%.
Invest Bank, a penny stock owned by the Sharjah government, has been showing momentum following its recent restructuring.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) rose 2.028% to close at 5,544.61. The session recorded 20,501 trades, with 230 million shares traded for a total value of Dh1.15 billion. Market breadth included 30 gainers, 13 decliners and six unchanged stocks.
Real estate giants Emaar and Emaar Development led the rally, each gaining more than 5%, while Deyaar rose 2.14%.
Banking stocks also performed strongly, with Emirates NBD and Dubai Islamic Bank rising 5.19% and 1.37%, respectively.
Toll operator Salik and utility major DEWA gained 1.77% and 0.37%, respectively.
"UAE equity markets rebounded sharply on Wednesday as investor sentiment lifted on signs of potential de-escalation,” said Adam Vettese, Market Analyst at eToro.
The DFM led regional gains, climbing 1.5% following the emirate’s Dh1 billion stimulus package, Vettese added.
ADNOC-linked stocks traded firmly in the green despite choppy oil prices.
“The resilience underscores the sector’s underlying strength. While the session recovered some ground, regional markets remain sensitive to further oil volatility and headline risk,” Vettese said.
