The UAE stock markets exploded into action as major companies unveiled their highly anticipated 2024 earnings, sending waves across the financial landscape. The Abu Dhabi Securities Exchange (ADX) flexed its muscles, holding firm above the massive Dh3 trillion milestone, proving its dominance in the region. Meanwhile, the Dubai Financial Market (DFM) skyrocketed by 1.415%, marking one of its most impressive surges in recent times. Investors were on edge, big moves were made, and fortunes shifted overnight!
The real MVP of the day? Aldar! The real estate giant stole the show with an incredible 7.06% surge, riding the momentum of its blockbuster Q4 earnings. The company even overtook International Holding Company (IHC) as the most traded stock, making it the hot pick of the moment. But while some celebrated, others stumbled. Lulu Retail took a massive hit, plummeting nearly 10% after revealing weaker-than-expected Q4 profits. The retail giant, which had listed at Dh2.04, found itself at Dh1.66, leaving investors scratching their heads.
Trading was on fire across both markets! ADX saw 392 million shares exchanged in over 29,000 trades, amassing a Dh1.54 billion trading volume, while DFM kept pace with 264 million shares traded in 16,144 transactions, totaling Dh952 million. The battlefield was intense—26 companies soared, 20 stumbled, and five held their ground.
Beyond the UAE, the Gulf region witnessed mixed fortunes. Saudi Arabia’s TASI dipped 0.3%, snapping a three-day winning streak, as Al Rajhi Bank dropped 1.5%, dragging the index lower. Meanwhile, Egypt’s EGX30 index sank 1.1%, as investors wrestled with uncertainty, geopolitical jitters, and tariff concerns.
With earnings season in full swing, investors are bracing for more fireworks in the coming weeks. Will the UAE markets maintain their momentum, or will surprises shake things up? Stay tuned—this financial rollercoaster is just getting started! 🚀📈💰
