Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets remained broadly stable on Wednesday, with the Dubai Financial Market bucking the broader trend to post gains.
The ADX General Index (FADGI) fell 0.211% to close at 9,831.46. Trading activity remained strong, with 19,941 trades involving 190 million shares worth Dh930 million. The total market capitalisation of ADX-listed companies stood at Dh2.877 trillion.
ADNOC Logistics & Services, NMDC and AD Ports were among the few blue-chip stocks to record gains amid the broader decline.
The banking sector largely mirrored the market’s weakness. Abu Dhabi Islamic Bank slipped 0.56%, while First Abu Dhabi Bank dropped 0.67%. Abu Dhabi Commercial Bank, however, rose 0.14%, providing some support to the sector.
ADNOC L&S rose 2.12%, while most other ADNOC-related stocks declined.
ADNOC Drilling lost 1.22%, ADNOC Gas dropped 0.6% and ADNOC Distribution slipped 0.25%. Borouge declined 0.41%, while Fertiglobe lost 0.37%.
Investment holding company 2PointZero rose 0.85% to close at Dh2.12, a day after its subsidiary ePointZero completed the acquisition of US-based Traverse Midstream Partners. Another investment holding company, Alpha Dhabi, slipped 1.91%, adding to the pressure on the ADX index.
Real estate major Aldar fell 0.13%, with the property sector remaining among the sectors most sensitive to the ongoing regional situation.
In Dubai, the Dubai Financial Market General Index (DFMGI) rose 0.346% to close at 5,911.36. The session recorded 12,023 trades, with 182 million shares changing hands for a total value of Dh583 million. Market breadth was positive, with 22 gainers, 16 decliners and 15 stocks unchanged.
The DFM defied the broader trend to post gains, with several leading stocks ending higher after losses in recent sessions.
Real estate majors Emaar Properties and Emaar Development moved in opposite directions, with the former gaining 0.35% and the latter losing 0.44%.
Emirates NBD gained 0.34%, while Dubai Islamic Bank advanced 0.8%, supporting the main index.
Utility provider DEWA remained unchanged at Dh2.71, while road-toll operator Salik gained 0.36%.
Telecom operator du rose 1.32%, while food-delivery company Talabat advanced 0.85%.
Emirates Refreshment Company rose 7.1%, providing support to consumer-related stocks.
Free-zone operator TECOM rose 2.12%, while ALEC Holding advanced 1.38%.
The divergence between Abu Dhabi and Dubai highlights a selective trading environment rather than broad-based risk aversion, Milad Azar, Market Analyst at XTB MENA, said.
“ADX remained under pressure as weakness in banks and key blue chips offset gains in ADNOC L&S and AD Ports, suggesting investors continue to favour companies with resilient earnings visibility despite regional uncertainty,” Azar noted.
Dubai’s advance points to improving investor confidence in domestically driven sectors, with financial, telecom, and selected real estate stocks attracting renewed buying interest, Azar said.
“Stable trading volumes indicate institutional participation remains intact, while attention is likely to shift toward second-quarter earnings, which could become the next major catalyst for UAE equities,” Azar added.
