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UAE markets continue rally with DFM rising by more than 1%
9 June 2025 20:19
A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets continued their momentum on Monday, with the Dubai Financial Market rising by more than 1% on the first day of trading after the four-day Eid break. The Abu Dhabi Securities Exchange (ADX) recorded its third consecutive session of gains, with its general index (FADGI) rising by 0.135% to close at 9,748.13. A total of 25,847 trades were executed, involving 502 million shares with a combined value of Dh1.334 billion. The total market capitalisation of all companies listed on the ADX stood at Dh3.012 led the rally with a 1.56% gain, followed by e& with a 0.58% rise and ADNOC Gas with a 0.3% increase. Aldar has announced plans to establish the region's first King's College School Wimbledon in Abu Dhabi as part of the recently announced project Fahid Island. Multiply, whose shares rose by 0.87% on Monday, announced a new media brand bringing all its outdoor advertising companies under one banner. Other top gainers on the ADX included E7W Warrants (+14.93%), Al Wathba National Insurance (+13.92%), and Abu Dhabi National Takaful (+13.64%). Notable decliners were Gulf Medical Projects (-6.05%), Investcorp (-2.94), and National Bank of Fujairah (-2.63%).
DFM The Dubai Financial Market's general index (DFMGI) rose by 1.026% to close at 5,592.75, its highest point since 2008, with almost all sectors in positive territory. A total of 20,636 trades were executed on the DFM, involving 834 million shares with a combined value of Dh1 billion. Share prices of 30 companies rose, 15 declined, and 10 remained the real estate giant, was the star performer with its stock rising by nearly 15% to reach Dh1.06. Deyaar Chief Executive Officer Saeed Mohammed Al Qatami recently wondered at a press conference why his company's stock price was less than a dirham when its book value was well above Dh1. Deyaar is often overtaken in optics by its better-known rivals — Emaar and Emaar Developments. Another blue-chip company, Salik, surged by 2.27%, leading to one of the biggest recent rallies. Among the other top gainers were Union Properties (+14.87%), Al Mal Capital REIT (+10%), and Emirates REIT (+9.43%). On the losing side, Al Mazaya Holding fell by 8.84%, followed by Emirates Islamic Bank (-5.65%), Amlak (-4.24%), and National Industries (-2.01%). Monday was the last day of trading for Emirates Islamic as its 100% ownership was acquired by its parent company, Emirates NBD.
Amlak Finance, in a disclosure, clarified that the recent price rally was triggered by the company's decision to proceed with the execution of the sale of the Ras Al Khor plots to Emaar Development for a total consideration of Dh2.9 billion.
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