Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets remained largely resilient on Tuesday, despite marginal declines in the headline indices, as regional uncertainty persisted.
The ADX General Index (FADGI) fell 0.173% to close at 9,993.24. The session recorded 20,728 trades involving 433 million shares worth Dh1 billion. The total market capitalisation of ADX-listed companies stood at Dh2.620 trillion.
United Arab Bank shares worth Dh52 million changed hands in a single bulk transaction, according to an ADX data update. Banking stocks were mixed. Abu Dhabi Islamic Bank rose 0.95% and Abu Dhabi Commercial Bank gained 0.25%, while First Abu Dhabi Bank slipped 1.44%.
ADNOC-linked stocks were also mixed. ADNOC Logistics and Services advanced 1.69%, while ADNOC Drilling declined 0.35%. ADNOC Gas rose 0.3%, while ADNOC Distribution declined 0.25%. Fertiglobe remained unchanged at Dh2.52, while Borouge dropped 0.42%.
Telecom operator e& rose 0.19% to Dh21.26 as it restored its former name, etisalat and launched its 50th-anniversary celebrations.
Real estate major Aldar gained 0.86%. Among holding companies, 2PointZero slipped 1.31% to Dh2.26, while Alpha Dhabi declined 0.93% to Dh7.44.
Consumer-focused stocks continued to perform strongly. Supermarket operators MAIR Group and Lulu Retail rose 9% and 6.77% respectively.
Abu Dhabi Aviation rallied sharply, rising 14.84% to Dh6.19 on a day when many stocks struggled to remain in positive territory.
In Dubai, the Dubai Financial Market General Index (DFMGI) fell 0.016% to close at 5,907.20. The session recorded 14,643 trades, with 450 million shares changing hands for a total value of Dh623 million. Market breadth was positive, with 22 gainers and 20 decliners, while nine stocks remained unchanged.
Real estate major Emaar Properties gained 0.7%, while its subsidiary Emaar Development fell 0.13%.
Banking stocks declined on the DFM, with Emirates NBD slipping 0.13% and Dubai Islamic Bank falling 0.55%.
Toll-gate operator Salik gained 0.94%, while parking operator Parkin advanced 0.82%. Utility provider DEWA declined 0.37% after surging 3.82% in the previous session.
Telecom operator du advanced 0.83% to close at Dh12.22, while Sharjah-based airline Air Arabia rose 0.22%.
“Tuesday’s session demonstrated the resilience of UAE equities amid continued regional uncertainty. The market’s performance points to consolidation rather than sustained selling pressure,” said Sayed A., Chief Business Officer at Graystone Capital.
The clearest theme of the session was demand for domestically focused consumer and infrastructure-related stocks such as Lulu, MAIR, Salik, Parkin and Aldar, Sayed said.
“Energy-linked stocks remained steady, supported by Brent crude holding above $90 a barrel,” he added.
Commenting on e&’s return to the etisalat name, Sayed said: “The return of one of the country’s best-known brands is a reminder of the depth and history of the UAE’s listed companies.”
Commenting on Abu Dhabi Aviation’s rally, Sayed said the stock was the standout performer of the session, rising 14.84% to Dh6.19 — effectively the maximum permitted under the exchange’s 15% daily price limit. “We have not seen a new announcement from the company, so the move appears to reflect investors reassessing the stock’s fundamentals,” he said.
Sayed noted that the aviation-services company’s first-half revenue rose 28% to Dh4.66 billion. In August, its board approved the divestment of Dh674 million in non-core property and equity investments as part of a strategy to focus capital on its core aviation and maintenance businesses while supporting expansion and shareholder returns.
The shares had fallen about 15% over the preceding year before Tuesday’s rally, while the stock typically recorded modest trading volumes, Sayed added.
“In a stock such as this, modest buying can move the price sharply. Tuesday’s surge came on turnover of about Dh18 million, representing less than 2% of the ADX’s total traded value,” he said.
Liquidity across both markets remained healthy, with a Dh52 million bulk transaction in United Arab Bank shares indicating that institutional investors continued to be active, he said.
The headline indices were moving within a narrow range as investors rotated towards companies offering dependable earnings and dividends, Sayed said.
“With the earnings season approaching and the long-term drivers of the UAE economy remaining intact, we believe the market is well positioned to move higher once regional sentiment improves,” he added.
