UAE equities drifted lower in subdued year-end trading, but not before booking weekly gains that hinted at underlying resilience, especially in Dubai.
With liquidity thinning as the calendar winds down, local markets took their cue from oil, which held steady but offered little fresh momentum. Crude’s recent rebound provided a cushion through the week, even as investors stayed alert to geopolitical flashpoints and fresh pressure on global supply chains.
Abu Dhabi’s market closed the session largely unchanged, pulled in opposite directions by sectoral moves. Losses in consumer discretionary and energy shares cancelled out advances elsewhere, leaving the benchmark flat on the day. Even so, the index finished the week up 0.7%, breaking a run of weekly declines. Alpha Dhabi Holding edged lower, Abu Dhabi Commercial Bank slipped, while gains in Presight AI Holding and First Abu Dhabi Bank helped steady the board.
Market participants described the session as directionless, noting that while oil’s recovery offered short-term relief, longer-term concerns about a potential supply surplus next year continue to hover over sentiment.
In Dubai, shares eased modestly, weighed down by weakness in financials and consumer stocks. Dubai Islamic Bank and Air Arabia both retreated, nudging the benchmark slightly lower on the day. Still, the emirate’s index notched its fifth straight weekly gain — a quiet but notable run in an otherwise cautious environment.
By the close, Abu Dhabi stood at 10,033, while Dubai settled at 6,134, ending the week on a steadier footing than the day’s muted trade suggested.
