Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The Abu Dhabi Securities Exchange (ADX) continued its surge on Thursday with its general index (FADGI) rising by 1.081% to reach 9,424.93.
A positive atmosphere returned to stock markets amid renewed hopes of a trade agreement between the US and China.
A total of 33,427 trades were recorded, involving 623 million shares with a combined value of Dh1.959 billion. The total market capitalisation of all companies listed on the ADX reached Dh2.904 trillion.
The ADX rally was led by gains made by premium stocks — Multiply (7.36%), Aldar (2.82%) and Abu Dhabi Islamic Bank (ADCB) (2.90%). ADCB reported stellar first-quarter results on Wednesday.
The other top gainers in the ADX include Gulf Pharmaceutical (+14.40%), Burjeel Holding (+9.72%) and Abu Dhabi Company for Building Materials (4.57%), while notable losers were Emirates Insurance (-9.87%), Aram Group (-6.25%) and E7 Warrants (-6.09%).
DFM
DFM’s general index (DFMGI) was down by 0.183% to reach 5195.82 points. The DFM ended a five-session winning streak, impacted by a 0.8% fall in property giant Emaar Properties.
A total of 13,840 trades were executed at the DFM, involving 251 million shares with a combined value of Dh626 million. The prices of 16 companies rose, while 26 declined, and 10 remained unchanged.
Among the top gainers were National Industries Group (+9.00%), National General Insurance (+7.97%) and Al Mal Captial REIT (+7.21%). The most notable losers included Dubai Islamic Insurance (-7.65%), Mazaya Holding (-4.76%), ENBD REIT (-4.37%) and Al Salam Bank (-3.03%).
Dubai Islamic Bank, a DFM-listed bank, reported a Dh2.1 billion pre-tax profit, reflecting a 14% year-on-year increase, driven primarily by growth in quality earning assets. Robust deposit mobilisation led to a 3% expansion of the balance sheet to Dh355 billion.
