Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets stayed muted on Thursday, with both exchanges reporting marginal losses amid re-escalation in regional situation.
The ADX General Index (FADGI) fell 0.033% to close at 9,881.79. Trading activity remained strong, with 24,564 trades involving 395 million shares valued at Dh1.52 billion. The total market capitalisation of ADX-listed stocks stood at Dh2.897 trillion.
Several blue-chip stocks reported gains despite the modest fall in the main index. The banking sector stayed resilient, with Abu Dhabi Islamic Bank gaining 0.275%. Abu Dhabi Commercial Bank gained 0.14%, while First Abu Dhabi Bank remained unchanged at Dh17.8.
ADNOC-linked stocks posted a mostly positive performance. ADNOC Logistics and Services led the gains, rising 2.38%, followed by ADNOC Drilling, which gained 2.12%. ADNOC Distribution was up 1.02% after its agreement to acquire Shell assets in South Africa.
ADNOC Gas reported no change in its share price at Dh3.43. Fertiglobe bucked the broader trend among ADNOC-linked stocks, losing 1.49%, while Borouge stayed muted at Dh2.5. Two bulk trades worth Dh184 million involving Borouge shares were reported by ADX.
Investment holding company 2PointZero rose 0.47% to reach Dh2.14. Another holding company, Alpha Dhabi, also posted a gain of 0.88%.
Realty giant Aldar also gained 0.5%, while ports and logistics player AD Ports advanced 4%.
In Dubai, the Dubai Financial Market General Index (DFMGI) fell 0.18% to close at 5,990.88. The session recorded 13,421 trades, with 156 million shares changing hands for a total value of Dh642 million. Market breadth was positive, with 22 gainers, 18 decliners and 11 stocks unchanged.
DFM saw pressure in key real estate and banking stocks, with Emaar and Emaar Development losing 0.67% and 1%, respectively.
Emirates NBD lost 0.32%, while Dubai Islamic Bank dropped 0.53%.
Utility provider DEWA gained 0.73%, while road toll operator Salik fell 1.93%. Supermarket giant Spinneys gained 0.8%.
Telecom company du gained 0.16%, while food delivery app Talabat advanced 1.68%.
Despite muted index performance, underlying market breadth suggests investors remain selectively constructive, said Milad Azar, Market Analyst, XTB MENA.
“Strength in ADNOC-linked companies, AD Ports and investment holdings indicates capital is rotating toward stocks with strong earnings visibility and structural growth drivers,” Azar said.
Resilient trading volumes reflect continued institutional participation despite heightened geopolitical uncertainty.
Commenting on the near-term outlook, Azar said: “Regional tensions are likely to keep headline indices range-bound in the near term, but defensive positioning in banks and high-quality state-backed companies should continue to underpin sentiment.”
Investors will remain focused on second-quarter earnings, with positive corporate results potentially outweighing external risks and supporting selective buying opportunities across the UAE market, Azar added.
