A tough start to the week for equity markets in the UAE, with Dubai’s DFMGI posting losses of around 0.3% whilst the sell-off for Abu Dhabi’s FADGI was closer to 1%. Regional markets tracked losses seen in the US on Friday following the payrolls news and mirrored the performance seen across East Asia, too.
- National Bank of Umm Al Qaiwain +4.3%
- Salik Company +2.7%
- Agility Pubic Warehousing -4.6%
National Bank of Umm Al Qaiwain was the biggest riser, adding 4.3% on the day. Whilst the bank has seen some short lived bouts of elevated trading volumes of late, Monday’s activity was back to typical subdued levels. This has however returned the stock to the 2.20Dhs level which has delivered repeated resistance over the last few months.
Salik Company was in second place, once again extending the run of gains which have been building since the toll gate valuation was made in late August. Today’s advance of 2.7%. Having eclipsed the levels tested in March ’24, Salik’s share price is now trading at an all time high.
Agility Public Warehousing was the biggest faller, off 4.6%. There’s no news here although volumes were fractionally elevated.
