Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets rebounded on Tuesday as ongoing dialogue between the US and Iran raised hopes of de-escalation.
The ADX General Index (FADGI) rose 0.556% to close at 9,840.00. Trading activity remained robust, with 28,145 trades involving 454 million shares valued at Dh1.296 billion. The total market capitalisation of ADX-listed stocks stood at Dh2.841 trillion.
Almost all blue chips posted gains on Tuesday, with real estate giant Aldar rising 3.7% after it announced the launch of a new project on Yas Island.
Banking stocks followed the broader market trend, with Abu Dhabi Islamic Bank gaining 0.89%. First Abu Dhabi Bank rose 0.65%, while Abu Dhabi Commercial Bank added 0.31%.
Holding company Alpha Dhabi was another strong performer, gaining 3.75%. 2PointZero Group also recorded an impressive gain of 1.96%.
ADNOC-listed companies mostly advanced, with the exception of ADNOC Distribution, which fell 0.53%. ADNOC Logistics and Services rose 1.14%, while ADNOC Drilling gained 0.96%. ADNOC Gas also added 0.93%. Borouge rose 0.38%, while Fertiglobe traded flat at Dh3.1 per share after impressive gains in the previous session. Sharjah Islamic Bank and MAIR Group were among other stocks that posted notable gains.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) rose 0.904% to close at 5,719.5.
The session recorded 19,727 trades, with 230 million shares traded for a total value of Dh831 million. Market breadth included 39 gainers, 10 decliners, and five unchanged stocks.
As is the case on most days, Emaar and Emaar Development led the gains, rising 2.56% and 3.59%, respectively.
Emirates NBD posted a relatively modest gain of 0.27%. Food delivery app Talabat rose 4.64%, while road toll operator Salik added 3.26%. Sharjah-based carrier Air Arabia also gained 2.58%.
Utility major DEWA declined 1%.
“Today’s rebound highlights the resilience of UAE markets and investor focus on domestic growth stories even amid external uncertainty,” Adam Vettese, Market Analyst at eToro, said.
“Attention now turns to whether sustained US-Iran engagement can support a more stable risk environment going forward,” Vettese added.
