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UAE Stocks: ADNOC Logistics, Al Dar Properties

  • ADNOC Logistics +3.8%
  • Al Dar Properties +3.5%
  • Ooredoo -9.3%

ADNOC Logistics added 3.8% to start the week, taking the share price back to levels not seen in more than four months as a result. Volumes were however sharply elevated with the exchange noting more than 8 million shares were transacted across 761 trades. The move coincides with the publication of the company’s sustainability report although there’s no suggestion that was a trigger for buying interest.

Al Dar Properties added 3.5%, again with a sharp increase in traded volumes being reported on the day. Shares are trading at more than six month highs as a result, but despite these pockets of interest, it’s worth noting that exchange-wide volumes look perfectly normal for the day.

Thinly traded Ooredoo was a big faller today, off some 9.3% during Monday’s trade but that simply returned the stock to the commonly traded price of last week. Volumes were significantly moderated from the elevated levels seen on Friday, so this is arguably just the market absorbing that demand.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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