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UAE bourses ADX and DFM drop as markets reopen

Trading on equity markets had been halted following a wave of missile attacks since Saturday. 

The UAE equity markets fell on Wednesday as trading resumed after a two day halt imposed in the wake of Iran’s attacks on the Gulf nation since Saturday. Both the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) have applied a temporary -5% lower price limit on securities.

Abu Dhabi’s FTFADGI index declined 2.85%, led by Aldar Properties, which dropped 5% to AED 10.26. First Abu Dhabi Bank (FAB) also fell to the limit, to AED 18.64, according to LSEG data.

Dubai’s main index, DFMGI, fell 4.8%, with banking and airline stocks leading the declines. Emirates NBD slipped 5% to AED 31.35, while Mashreq dropped to AED 230.85. Air Arabia, the market’s sole airline stock, also declined 5% to AED 5.14.

The Abu Dhabi Securities Exchange instructed all listed companies to assess and disclose any financial or operational exposure related to recent events, emphasising the need for timely disclosure of material information that could affect investor decisions.

In early trade, Saudi Arabia’s Tadawul All Share Index (TASI) showed resilience, rising 0.73%, while Qatar’s QE Index edged up 0.14%.

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