Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets witnessed heavy selling on Monday following an escalation in the geopolitical situation, although the Dubai market proved relatively resilient.
The ADX General Index (FADGI) fell 1.354% to close at 9,483.97. Trading activity remained robust, with 21,544 trades involving 263 million shares valued at Dh798 million. The total market capitalisation of ADX-listed stocks stood at Dh2.763 trillion.
Banking stocks delivered a mixed performance, with Abu Dhabi Commercial Bank rising 0.77%. Abu Dhabi Islamic Bank dropped 2.59%, while First Abu Dhabi Bank fell 0.24%.
ADNOC-linked stocks also came under pressure. ADNOC Gas traded flat at Dh3.28, while ADNOC Logistics and Services rose 0.35%. ADNOC Drilling slipped 2.27%, ADNOC Distribution shed 2.4%, Borouge fell 1.59%, and Fertiglobe dropped 1.32% to Dh3 per share.
Among holding companies, 2PointZero dropped 2.84%, while Alpha Dhabi fell 1.77%. Real estate giant Aldar slipped 0.14%. Phoenix Group, the crypto miner turned data centre operator, fell 3.62%.
In Dubai, the Dubai Financial Market (DFM) General Index (DFMGI) fell 0.571% to close at 5,734.81. The session recorded 13,366 trades, with 199 million shares changing hands for a total value of Dh600 million. Market breadth remained negative, with seven gainers, 43 decliners and six stocks unchanged.
Dubai Islamic Bank (DIB) and telecom major du defied the broader market trend, rising 1.1% and 0.68%, respectively. Real estate heavyweights Emaar and Emaar Development, key index drivers, fell 0.88% and 2.44%, respectively. Emirates NBD lost 1.48%, while DIB moved in the opposite direction.
Road toll operator Salik fell 1.05%. Sharjah-based carrier Air Arabia lost 0.85%, while DEWA gained 0.77%. Dubai Residential REIT lost 3.73%, while consumer-facing companies Dubai Refreshment Company and Spinneys fell 4.1% and 0.83%, respectively.
“UAE equity markets pulled back on Monday as renewed instability in the region weighed on investor confidence,” said Nagham Hassan, Market Analyst at eToro.
Hassan said sentiment turned cautious as fresh escalation undermined the fragile diplomatic progress that had been building in recent weeks.
Oil prices surged sharply, with Brent climbing nearly 5% to above $97, as tensions around key regional shipping routes intensified and supply disruption fears resurfaced.
“Real estate and consumer discretionary shares were among the hardest hit on the DFM, while Abu Dhabi financials led losses on the ADX,” Hassan said.
