Key Highlights
- SAUDIA, the Lunate S&P KSA Shariah ETF, rose 3.9% on the day on AED 391.4k of notional, 5.3 times its seven-day average volume.
- UAEA, the Lunate S&P UAE Shariah ETF, traded 2.9 times its seven-day average volume with AED 92.0k notional, slipping 0.4% on the day.
- QUANTM, the Boreas Solactive Quantum Computing UCITS ETF, was down on the day: 4.9%, and down 5.3% on the week.
- PUREHEALTH, Pure Health Holding PJSC, was the top equity gainer, up 8.8% on the day and 16.8% on the week, on 2.7 times normal volume.
- ESHRAQ, Eshraq Investments PJSC, rose 8.1% on the day on 6.3 times its seven-day average volume, with AED 60.74m traded.
- FAB, First Abu Dhabi Bank, fell 2.9% on the day, the weakest of the listed equities, on below-average volume.
- IHC, International Holding Company PJSC, carried the week's largest equity net outflow at AED 101.4m.
Market Overview
The ETF story on ADX on Wednesday was again about Saudi exposure. SAUDIA, the Lunate S&P KSA Shariah ETF, rose 3.9% on 5.3 times its seven-day average volume and AED 391.4k of notional, comfortably the largest turnover across the exchange's funds. The move extends the pattern flagged in Tuesday's Market Wrap, when the fund traded 22 times its normal volume, and confirms that Saudi exposure remains the most actively traded ETF theme on the exchange for a second straight session.
The tension is on the flow side and beneath the surface of equities. Despite the price gain, SAUDIA still carries AED 695k in net redemptions over the week, the largest of any ADX-listed fund, so elevated turnover has come with sellers in charge on a weekly basis. Among equities, strong double-digit weekly gains in Pure Health and Eshraq sat alongside declines in the two largest banks and ADNOC Gas, leaving no single direction for the exchange as a whole.
ETFs
SAUDIA was the day's leading ETF by both return and turnover, its 3.9% one-day gain the second-best across ADX funds. Its AED 391.4k notional was more than four times the next most-traded fund. The fund's weekly net outflow of AED 695k dwarfs every other ETF flow figure on the exchange, meaning the two-day burst of activity has, on balance over the week, been dominated by selling into strength (Nukoud calculations based on Nukoud Analytics).
TURKI, the Lunate S&P Turkey Shariah ETF, actually posted the best one-day return among ADX funds, up 5.2%, but on only 305 shares, 0.17 times its seven-day average, so the price signal comes with little liquidity behind it. At the other end, QUANTM, the Boreas Solactive Quantum Computing UCITS ETF, fell 4.9% on the day on 0.12 times normal volume, with AED 94k in weekly net redemptions.
Home-market funds saw genuine activity without a matching price move. UAEA, the Lunate S&P UAE Shariah ETF, traded 2.9 times normal volume and AED 92.0k of notional while easing 0.4% on the day, and CHADX15, the Lunate FTSE ADX 15 ETF, traded 3.4 times normal volume while falling 1.6%. CHHK, the Lunate S&P China HK Shariah ETF, traded 4.4 times its average but fell 2.9% on the day and is down 5.5% on the week.
Fixed income was quietly firmer: SUKUK, the Lunate JP Morgan Global Sukuk ETF, rose 1.6% on the day with AED 34k of weekly net inflows, one of the few funds attracting money over the week. USGRWTH, the Lunate S&P US Shariah Growth ETF, traded almost exactly in line with its seven-day average and gained 0.5% on the day, though it carries AED 107k in weekly net outflows.
Equities
Equity strength was concentrated in two names. PUREHEALTH, Pure Health Holding PJSC, rose 8.8% on the day on 2.7 times its seven-day average volume, taking its weekly gain to 16.8%. ESHRAQ, Eshraq Investments PJSC, added 8.1% on 6.3 times normal volume, the most stretched volume reading among equities, with AED 60.74m of value traded and AED 20.1m of weekly net inflows. ALDAR, Al Dar Properties, gained 2.2% with the day's largest equity net-inflow support over the week at AED 34.2m.
The weak spots were the large caps. FAB, First Abu Dhabi Bank, fell 2.9% on 0.88 times normal volume, and ADCB, Abu Dhabi Commercial Bank, lost 1.8%, extending the bank softness noted in Tuesday's wrap. ADNOCGAS, ADNOC Gas PLC, dropped 2.7% on 1.5 times average volume and is down 3.9% on the week, a period in which crude benchmarks have declined sharply as Iran and Oman approach a Hormuz transit deal.
ADIB, Abu Dhabi Islamic Bank, was the day's turnover leader at AED 159.59m on 3.2 times normal volume, yet closed only 0.3% lower, while IHC, International Holding Company PJSC, eased 0.8% and remains the week's largest equity net outflow at AED 101.4m.
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.