UAE stock markets see big surge after ceasefire news
24 June 2025 15:40
A. SREENIVASA REDDY (ABU DHABI)Mojo returned to the UAE stock markets on Tuesday after US President Donald Trump declared a ceasefire between Iran and Israel.The Abu Dhabi Securities Exchange's general index (FADGI) surged by a substantial 2.487% to close at 9,795.30, lifting the market capitalisation to Dh3.047 trillion. This marks one of the largest single-day gains in the index in recent times.The rally on the ADX was led by Aldar, which jumped 10%, followed by Multiply Group with a 6.5% rise, Abu Dhabi Commercial Bank with 6.3%, and Abu Dhabi Islamic Bank with 5.9%.The Dubai Financial Market also posted strong gains, with its main index (DFMGI) rising by 3.36% to reach 5,593.01 — its biggest intraday gain since mid-December.
DFM's rally was primarily driven by a more than 5% surge in the share prices of blue chips such as Emaar, Salik, and Emirates NBD. Dubai Islamic Bank also advanced by 4%, contributing to the overall uptick.
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