Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets came under severe pressure on Monday amid what appeared to be an escalating geopolitical situation.
The ADX General Index (FADGI) slipped 1.202% to close at 9,561.37. Trading activity remained robust, with 24,652 trades involving 248 million shares valued at Dh941 million. The total market capitalisation of ADX-listed stocks stood at Dh2.770 trillion.
ADNOC Gas and Fertiglobe appeared to buck the broader market trend by posting gains. ADNOC Gas rose 0.61%, while Fertiglobe gained 0.89% to close at Dh3.4. Other ADNOC-linked stocks came under varying degrees of pressure, with ADNOC Distribution declining 0.258% and ADNOC Drilling falling 0.17%.
ADNOC Logistics and Services recorded the biggest decline among the ADNOC stocks, falling 1.2%. Borouge lost 0.79% to end at Dh2.5.
Banking stocks also followed the broader market trend, with Abu Dhabi Commercial Bank losing 4.93%, while Abu Dhabi Islamic Bank declined 3.16%. First Abu Dhabi Bank fell 1.87%.
Holding company 2PointZero almost hit the lower trading limit, losing 4.95% to close at Dh1.92. Alpha Dhabi fell nearly 3%.
Real estate giant Aldar lost 3%, adding to the broader market decline. Crypto miner-turned-data-centre company Phoenix hit the maximum loss limit of nearly 5%.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) declined 1.738% to close at 5,609.58. The session recorded 18,156 trades, with 219 million shares changing hands for a total value of Dh775 million. Market breadth remained negative, with four gainers, 41 decliners and five stocks unchanged.
Real estate giants Emaar Properties and Emaar Development led the market decline, falling 3.6% and 1.7%, respectively. Emirates NBD fell 1.73%, while Dubai Islamic Bank gained 0.55%.
Road toll operator Salik declined 2.66%, while parking operator Parkin edged down 2.17%.
Sharjah-based carrier Air Arabia fell 3.3%, while DEWA lost 0.75%.
Telecom operator du was among the very few gainers, rising 0.89%.
“UAE equities faced broad-based selling pressure as investors reacted to rising geopolitical uncertainty across the region, triggering a clear risk-off sentiment,” Milad Azar said.
Financial and real estate stocks led the declines, with heavyweight companies in Abu Dhabi and Dubai weighing significantly on both indices despite relatively solid trading liquidity and turnover levels, Azar added.
“The session also showed pockets of resilience. Select defensive and energy-linked names such as ADNOC Gas, Fertiglobe and du managed to post gains, suggesting investors are not fully exiting the market but rather rotating toward companies viewed as more stable amid volatility,” Azar said.
