Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets traded firmly in positive territory on Monday, even as uncertainty over the Strait of Hormuz persisted.
The ADX General Index (FADGI) rose 0.397% to close at 9,827.66. Trading activity remained robust, with 27,138 trades involving 356 million shares valued at Dh1.09 billion.
The total market capitalisation of ADX-listed stocks stood at Dh2.828 trillion.
Alpha Dhabi was the standout performer on the ADX on the first day of the week, rising 8.73%. Another holding company, 2PointZero, gained 1.95%.
Banking stocks showed positive momentum, with Abu Dhabi Commercial Bank rising 3.46%. Abu Dhabi Islamic Bank gained 0.8%, while First Abu Dhabi Bank added a more modest 0.67%.
ADNOC-related companies delivered a mixed performance. ADNOC Gas rose 1.59%, while ADNOC Distribution added 1.09%. ADNOC Drilling slipped 1.36%, and ADNOC Logistics and Services declined 0.75%. Fertiglobe continued its strong performance with a gain of 1.54%, while Borouge edged down 0.39%.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) gained 0.281% to close at 5,870.62. The session recorded 16,846 trades, with 234 million shares changing hands for a total value of Dh770 million. Market breadth improved, with 32 gainers, 16 decliners, and seven stocks unchanged.
Emaar rose 0.81%, while its sister unit, Emaar Development, slipped 0.13%.
Emirates NBD added 0.53%, and Dubai Islamic Bank gained 0.69%. Air Arabia edged up 0.19%, indicating relatively subdued trading across the DFM.
Road toll operator Salik gained 0.28%, while utility major DEWA declined 1.83%.
“UAE stock markets ended positive on Monday, demonstrating resilience,” said Adam Vettese, Market Analyst at eToro.
The DFM started the session strongly but pared some intraday gains, Vettese said.
“Selective buying in blue-chip and defensive stocks helped the bourses post modest gains, underscoring underlying confidence in the UAE economy’s fundamentals despite global uncertainties,” he added.
