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Al Etihad
4 days ago
- Business
- Al Etihad
UAE stock markets extend gains in June, ADX up 2.8%, DFM jumps 4.1%
1 July 2025 14:13 REDDY (ABU DHABI)Despite a volatile regional backdrop, the UAE stock markets registered strong gains in June 2025, with the Abu Dhabi Securities Exchange (ADX) main index rising 2.8% and the Dubai Financial Market (DFM) index advancing 4.1%, according to Kamco Invest's latest GCC Markets Monthly performance reflected a continuation of positive momentum, with both exchanges recording their third consecutive monthly increases. Kamco Invest noted, 'GCC markets recover strongly despite geopolitical tensions and crude oil volatility,' pointing to a resilient investor sentiment across the ADX General Index closed June at 9,957.52 points, marking a year-to-date gain of 5.7% and a second quarter increase of 6.3%. The rally was broad-based, with eight out of 10 sector indices ending in the green. Real estate led the charge, surging 7.8%, followed by the utilities sector, which gained 6.7% on the back of a strong performance by Abu Dhabi National Energy Company (TAQA). The report noted that share prices rose in four of the five companies within the real estate individual stocks, Abu Dhabi National Co. for Building Materials was the top performer, soaring 125.3% in June. Other notable gainers included Fujairah Cement Industries (+77.2%) and Al Khaleej Investment Co. (+52.8%). On the downside, Insurance House fell 12%, while Oman & Emirates Investment Holding and Hily Holding dropped 10% and 9.7%, price movements were positive, trading activity on the ADX softened. The total value of shares traded declined by 14% to Dh26.3 billion, while volumes fell 4.4% to 6.6 billion shares. ADNOC Gas was the most traded stock by volume, followed by Multiply Group and Phoenix Group. In terms of value, First Abu Dhabi Bank led with Dh3.3 billion, trailed by IHC and ADNOC the Dubai bourse, the DFM General Index closed at 5,705.76 points, taking its year-to-date growth to an impressive 10.6%. Sectoral performance was largely positive, with six out of eight sector indices posting gains during the month, while the remaining two recorded declines. The materials index jumped 21.9%, followed by a 10.8% rise in the industrial sector. The heavyweight financial and real estate indices also recorded robust gains of 4.7% Finance emerged as the month's best-performing stock, climbing 49.1%. Union Properties and United Foods Co. also posted notable increases of 34.6% and 29.5%, respectively. The utilities sector, led by DEWA, contributed a 4.3% gain to the overall report observed that 'trading activity on the exchange increased in June despite the Eid holidays,' with volumes up 54.6% to 7 billion shares. However, the value traded remained flat at Dh15.1 billion. Union Properties topped the monthly trading volume chart with 1.2 billion shares exchanged, while Emaar Properties led in traded value with Dh3.6 the macroeconomic front, the report also cited the UAE Central Bank's projections, noting that the country's real GDP is expected to grow by 4.4% in 2025 and 5.4% in 2026. The central bank attributed the outlook to 'strong momentum in non-hydrocarbon activities and robust performance in the hydrocarbon sector,' aided by revised OPEC+ production estate sentiment in Dubai remains upbeat. Data cited by Kamco from Property Finder highlighted record-breaking activity in May 2025, with total sales hitting Dh66.8 billion. Off-plan transactions saw a staggering 314% year-on-year increase, while the ready market also posted strong 21% the robust gains across ADX and DFM reflect sustained investor confidence, improving economic fundamentals, and increasing interest in real estate, finance, and energy sectors. As Kamco concluded, the 'broad-based recovery' and 'consistent monthly advances' underscore the resilience of the UAE's financial markets heading into the second half of 2025. Looking at the regional picture, Kamco noted: 'After falling to the lowest level in two months during the first half of June 2025, the GCC market index witnessed strong and consistent recovery during the second half of the month, resulting in a 3.1% gain in the MSCI GCC index.' The gains were broad-based, with almost all markets closing in positive territory, barring Oman, which dipped 1.3%. Kuwait led regional performance with a 4.2% rise, followed by Dubai at 4.1%. Qatar added 2.7% while Saudi Arabia gained 1.6% during the month.
Khaleej Times
21-04-2025
- Entertainment
- Khaleej Times
Varun Dhawan lauds Akshay Kumar's 'Kesari Chapter 2'
Since Akshay Kumar's historic courtroom drama Kesari Chapter 2 was released in theatres earlier this week, the film has been performing strongly at the box office. The latest to praise the film is actor Varun Dhawan. Taking to his Instagram Stories on Sunday, he reviewed Kesari, calling it a "powerful film". He also praised the entire cast and crew. "Such a powerful film! Loved watching it in the theatres. Congratulations @bindraamritpal, #Karan, @ananyapanday, you were very good, @actormaddy, loved you sir, and @akshaykumar, your passion and hard work shine in this. @karanjohar, so happy for you, you've done it again," followed by a hug emoji. He also mentioned, "@azeemdayani, loved your score," read his post. The film has been performing well at the box office. According to the makers, it made Rs78.4 million (Dh3.3 million) net profit on day one. Sharing the collection figures, Dharma Movies posted on Instagram: "A film about justice. A journey of truth. A triumph at the box office. Book your tickets now - link in bio! # KesariChapter2 i n cinemas now, worldwide." According to trade analyst Taran Adarsh, Kesari 2, which also stars Ananya Panday and R Madhavan, "has opened on expected lines across key markets". Kesari Chapter 2 focuses on the untold story of the Jallianwala Bagh massacre. The lead star, Akshay Kumar, plays the legendary advocate C Sankaran Nair in the film. It is directed by Karan Singh Tyagi and produced by Karan Johar.
The National
27-03-2025
- Business
- The National
Sunny Varkey and family donate Dh100 million to Fathers' Endowment campaign
Sunny Varkey, founder of Gems Education, and his family have donated Dh100 million to a fund launched by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, to support people in need. The Fathers' Endowment campaign was created to provide "treatment and health care to the poor and needy". The campaign continues the UAE's long-standing tradition of generosity since the nation's founding, said Mr Varkey, who stressed its positive impact had reached communities worldwide. "I have been fortunate that I grew up in a family where charity was ingrained in us from a very early age," he said. "Since we moved to the UAE, my father made sure to share and engage with the community, supporting humanitarian initiatives and helping others. To this day, our underlying philosophy remains to prioritise giving. "We are proud to participate in this noble initiative and to belong to the UAE community, where generosity and support for the needy are deeply ingrained, especially during Ramadan. The overwhelming support for the Fathers' Endowment campaign, aiming to provide sustainable healthcare, is a testament to this commitment." The initiative, which coincides with Ramadan, was inspired by the role fathers play in society. People in the UAE have been encouraged to make donations in their fathers' names. It was announced earlier this month the campaign had already raised more than Dh3.3 billion – more than three times its initial target. The Fathers' Endowment campaign is the latest initiative launched by Sheikh Mohammed to mark the holy month each year. The Mothers' Endowment campaign was introduced last year to mark Ramadan. It aimed to support the education of millions around the world raising at least Dh1 billion. It surpassed that goal, reaching more than Dh1.4 billion. Previous campaigns launched to mark Ramadan include the 10 Million Meals initiative of 2020, which secured more than 15.3 million meals for communities affected by the Covid-19 pandemic. The 100 Million Meals campaign was launched in 2021, collecting 220 million meals for vulnerable groups, while the 1 Billion Meals of 2022 achieved its goal in less than a month. In 2023, the 1 Billion Meals Endowment raised Dh1.075 billion. Updated: March 27, 2025, 5:16 PM
