Key Highlights
- QUANTM, the Boreas Solactive Quantum Computing UCITS ETF, was the ETF board's weakest performer, down 2.2% on the day
- JPANI, the Lunate S&P Japan UCITS ETF, traded 5,440 shares, 6.9 times its 7-day average, the highest volume multiple on the ETF board.
- SAUDIA, the Lunate S&P KSA Shariah ETF, was the ETF board's best 1-day performer at +0.9%, but on just 0.02 times its 7-day average volume, and carries the board's heaviest weekly net selling pressure at AED -932k.
- BILDCO, Abu Dhabi National Co. for Building Materials, led the equity board, up 14.5% on the day on 8.0 times its 7-day average volume.
- ESHRAQ, Eshraq Investments PJSC, rose 11.0% on the day and 14.8% over the week from 24 August, on 2.7 times average volume.
- FAB, First Abu Dhabi Bank, fell 1.8% on the day, the weakest of the 15 largest equities by value traded.
- Exchange turnover was AED 1.44bn across 97 tickers, down 47.2% from Monday's AED 2.72bn but 3.8% above the eight-session average.
Market Overview
Tuesday's ADX session was a mixed one with a defensive tilt on the fund board. Only four ETFs ended higher against 12 lower and three unchanged, and the gainers were concentrated in income and regional dividend exposures: SAUDIA, the Lunate S&P KSA Shariah ETF, GCCDIV, the Lunate Solactive GCC Shariah Dividend ETF, and SUKUK, the Lunate JP Morgan Global Sukuk ETF. Thematic growth funds sat at the other end, consistent with the backdrop of UAE stocks falling on Iran tensions amid MSCI rebalancing and fresh US strikes on Iranian targets.
The equity board told a different story. Breadth there was slightly positive, 34 gainers to 29 decliners with 11 unchanged and three names excluded for lacking a previous-session close, and the day's largest moves were sharp advances in smaller names on multiples of normal volume. That divergence, cautious fund positioning against concentrated speculative equity buying, is the session's defining tension.
ETFs
QUANTM, the Boreas Solactive Quantum Computing UCITS ETF, was the board's weakest fund by 1-day return, down 2.2%, extending its decline since 24 August to 5.9%. LUXURY, the Boreas S&P Absolute Luxury UCITS ETF, was close behind at -2.1%. Both traded roughly in line with their 7-day averages, so the declines came on ordinary rather than elevated activity.
The activity signal sat elsewhere. JPANI, the Lunate S&P Japan UCITS ETF, printed the board's highest volume multiple at 6.9 times its 7-day average while easing 0.9%. AGIX, the KraneShares Artificial Intelligence & Technology ETF, ran at 5.9 times its average on 75 shares and closed 0.2% higher, one of only four fund gainers on the day.
By value, USGRWTH, the Lunate S&P US Shariah Growth ETF, topped the board with AED 133.3k, 29.6% of ETF turnover, ending 0.5% lower. UAEA, the Lunate S&P UAE Shariah ETF, ranked second at AED 92.7k and closed flat; it also leads the board's weekly net buying pressure at AED +236k over the week, one of only six funds on the positive side against 18 negative.
The gainers' quality varied. SAUDIA's board-leading 0.9% rise came on the thinnest relative volume of any traded fund, 0.02 times its 7-day average, and against the board's largest weekly net selling pressure at AED -932k. GCCDIV added 0.9% and SUKUK 0.8%, both on well below-average volume. The defensive-income skew of the board's winners fits the regional risk backdrop, and the busy launch environment noted in reporting that global ETF launches hit a record high in 2026 keeps the ADX fund shelf itself expanding even on cautious days.
Equities
Equity strength was concentrated in a handful of smaller names trading far above normal volume. BILDCO, Abu Dhabi National Co. for Building Materials, led the entire board at +14.5% on 8.0 times its 7-day average volume and AED 77.36m traded. ESHRAQ, Eshraq Investments PJSC, added 11.0% on AED 101.83m, 2.7 times average volume, while SPACE42, Space42 PLC, gained 8.7% and ANAN, Anan Investment Holding PJSC, 5.2%, both on more than twice normal volume. All four also carry positive weekly net buying pressure, led by ESHRAQ at AED +38.5m.
The heavyweights lagged. FAB, First Abu Dhabi Bank, fell 1.8% on 1.3 times its average volume, and ALPHADHABI, Alpha Dhabi Holding PJSC, lost 0.9%. IHC, International Holding Company PJSC, the day's largest equity by value at AED 178.55m, eased 0.3% and carries the heaviest weekly net selling pressure in the CSV selection at AED -147.1m. ADNOC Gas PLC slipped 0.3% on just 0.32 times its average volume. The setting of Iran tensions and MSCI rebalancing pressure on UAE stocks sat behind the softness in the larger names, while OEIHC, at -4.9%, was the equity board's worst performer.
This article was created with AI assistance and reviewed by our Editorial staff before publication. This article is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Please review the relevant securities website and factsheets before making any investment decision. See our full disclosures.
