Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
UAE stock markets came under renewed pressure on Thursday as tensions in the region continued to escalate.
The ADX General Index (FADGI) fell 0.295% to close at 9,804.54. The session recorded active trading, with 20,008 transactions involving 376 million shares worth Dh1.06 billion. The total market capitalisation of ADX-listed companies stood at Dh2.566 trillion.
Banking stocks remained resilient, with First Abu Dhabi Bank advancing 0.83%. Abu Dhabi Islamic Bank added 0.88%, while Abu Dhabi Commercial Bank rose 0.25%. Gains in banking stocks helped limit the decline in the main index.
Most ADNOC-linked stocks traded lower amid concerns about supply-chain disruptions. ADNOC Drilling fell 1.08%, ADNOC Logistics and Services slipped 0.4% and ADNOC Distribution dropped 0.26%. ADNOC Gas bucked the trend, gaining 0.31%. Fertiglobe declined 4.24%, while Borouge lost 0.43%.
Real estate major Aldar remained unchanged at Dh8.04 after announcing the Dh1.1 billion acquisition of real estate assets in Sharjah from Arada. Telecom operator etisalat lost 1.61% to close at Dh20.76.
Among holding companies, 2PointZero lost 0.94% to close at Dh2.12, while Alpha Dhabi dropped 0.28% to Dh7.17.
Abu Dhabi Aviation gained 1%, extending its recent rally.
In Dubai, the Dubai Financial Market General Index (DFMGI) fell 1.054% to close at 5,830.47. The session recorded 10,758 trades, with 132 million shares changing hands for a total value of Dh403 million.
Market breadth was negative, with 35 decliners and five gainers, while nine stocks remained unchanged.
Real estate major Emaar Properties remained unchanged at Dh11.40, while its subsidiary Emaar Development lost 0.46%.
Banking stocks also came under pressure on the DFM, with Emirates NBD losing 1.71% and Commercial Bank of Dubai declining 2.25%. Dubai Islamic Bank remained unchanged at Dh7.15.
Toll-gate operator Salik lost 2.62%, while parking operator Parkin dropped 2.5%. Utility provider DEWA slipped 1.85%.
Sharjah-based airline Air Arabia bucked the trend, rising 0.22%. Telecom operator du lost nearly 1% to close at Dh12.08.
UAE markets remained under pressure as escalating regional tensions heightened investor caution, with Dubai recording sharper losses than Abu Dhabi, Milad Azar, Market Analyst at XTB MENA, said.
“The decline in ADNOC-linked stocks and Fertiglobe reflects concerns about potential supply-chain disruptions and their implications for energy-related businesses,” Azar said.
However, gains in major Abu Dhabi banks provided some support, highlighting the relative resilience of financial stocks amid broader market uncertainty, he added.
“Investor sentiment is likely to remain sensitive to geopolitical developments, oil-market movements and shipping risks,” Azar said.
Selective buying may continue in fundamentally strong companies, while volatility and cautious positioning are likely to dominate trading in the near term, he added.
