Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets remained under pressure on Tuesday, with select names making gains amid continuing regional uncertainty.
The ADX General Index (FADGI) fell 0.304% to close at 9,621.19. Trading activity remained robust, with 34,826 trades involving 354 million shares valued at Dh1.16 billion. The total market capitalisation of ADX-listed stocks stood at Dh2.804 trillion.
Selective names such as Alpha Dhabi and e& gained on a day when most market movers remained under pressure.
Banking stocks took the heat, though not to the same extent as in the previous session. Abu Dhabi Islamic Bank lost 1.12%, while Abu Dhabi Commercial Bank dropped 0.6%. First Abu Dhabi Bank also followed the broader market trend, falling 0.85%.
ADNOC-linked stocks also bore the brunt of the sentiment, with ADNOC Gas losing 1.2%. ADNOC Distribution shed 1.81%, while ADNOC Drilling dropped 1.26%. ADNOC Logistics and Services lost 1.83%, while Borouge gained 0.4%. Fertiglobe suffered the biggest loss among the group, falling 3.74% to close at Dh3.09.
Holding company 2PointZero lost 2.29%, while Alpha Dhabi bucked the market trend to gain 4.5%. Telecom giant e& showed traction with a gain of 2.44%, a day after divesting from Careem Technologies.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) climbed 0.738% to close at 5,732.3. The session recorded 17,421 trades, with 285 million shares changing hands for a total value of Dh709 million. Market breadth remained negative, with 12 gainers, 35 decliners and eight stocks unchanged.
Real estate heavyweights Emaar and Emaar Development fell 0.69% and 0.29%, respectively.
Food delivery platform Talabat gained nearly 1.6%, continuing its bull run after its latest quarterly earnings and Uber’s interest in taking over its parent company.
Emirates NBD dropped 0.29%, while Dubai Islamic Bank lost 1.02%.
Road toll operator Salik gained 2%, extending its good run for the second consecutive day. Sharjah-based carrier Air Arabia slipped 2.27%, while DEWA fell 1.54%.
“The ADX remains caught between resilient liquidity and cautious investor positioning amid regional uncertainty,” said Milad Azar, Market Analyst at XTB MENA.
Azar said that while the broader index declined, the strong performance of Alpha Dhabi and e& suggests investors are selectively rotating into companies with solid earnings visibility, diversified revenue streams and potential corporate catalysts.
“This selective buying indicates risk appetite has not disappeared but has become increasingly defensive and stock-specific,” Azar said.
Azar also struck an optimistic note on the energy and financial sectors, saying the weakness in banking and ADNOC-linked names reflected concerns over near-term sentiment rather than a deterioration in fundamentals.
Meanwhile, the DFM’s outperformance highlights continued interest in domestic growth stories such as Talabat and Salik, Azar said.
“If geopolitical tensions ease, UAE equities could see a broader rebound, supported by strong balance sheets, healthy liquidity, and relatively attractive valuations,” Azar added.
