Key Highlights
- AIPOWR, the Boreas S&P AI Data Power & Infrastructure UCITS ETF, traded 53,646 shares, 4.8 times its 7-day average, for AED 125.5k, the largest ETF notional of the day, while easing 0.8% on the session.
- CHADX15, the Lunate FTSE ADX 15 ETF, traded 10.7 times its 7-day average volume while falling 1.9% on the day, tracking weakness in the exchange's large caps.
- USGRWTH, the Lunate S&P US Shariah Growth ETF, carries the week's largest ETF net outflow at AED 606k, despite a 0.8% 1-day gain.
- TURKI, the Lunate S&P Turkey Shariah ETF, was the best-performing ETF by 1-day return, up 3.2%, though on just 410 shares.
- ADNOCLS, ADNOC Logistics & Services, led equities with a 3.0% 1-day gain and is up 8.3% on the week.
- FAB, First Abu Dhabi Bank, was the weakest large cap, down 3.4% on the day on 1.1 times average volume.
- IHC, International Holding Company, shows the largest weekly equity net outflow at roughly AED 81.6m.
Market Overview
Friday's session on the Abu Dhabi Securities Exchange belonged to the ETF tape as much as the stocks beneath it. AIPOWR, the Boreas S&P AI Data Power & Infrastructure UCITS ETF, turned over 53,646 shares against a seven-day average of 11,161, a 4.8 times multiple by Nukoud calculations based on Nukoud Analytics, generating AED 125.5k, the largest ETF notional on the exchange. CHADX15, the Lunate FTSE ADX 15 ETF, printed an even sharper volume signal at 10.7 times its thin average, though it fell 1.9% alongside the large caps it tracks.
The counterpoint is that elevated ETF activity did not mean elevated ETF returns or inflows. Most active funds closed lower, and the week's flow ledger is dominated by an AED 606k net outflow from USGRWTH, the Lunate S&P US Shariah Growth ETF. On the equity side, weakness was concentrated in banks, with FAB, First Abu Dhabi Bank, down 3.4%, while ADNOCLS, ADNOC Logistics & Services, gained 3.0% and kept the session from being uniformly negative.
ETFs
The clearest ETF signal was volume rather than price. AIPOWR, the Boreas S&P AI Data Power & Infrastructure UCITS ETF, did AED 125.5k of business on 53,646 shares, 4.8 times its seven-day average by Nukoud calculations based on Nukoud Analytics, while slipping 0.8% on the day and holding a modest AED 79k weekly net inflow. CHADX15, the Lunate FTSE ADX 15 ETF, traded 5,645 shares against an average of just 528, a 10.7 times multiple, and fell 1.9% on the day and 2.1% on the week, mirroring the pressure on its underlying large caps.
Flows were the second story. USGRWTH, the Lunate S&P US Shariah Growth ETF, posted the week's largest ETF net outflow at AED 606k even though it rose 0.8% on Friday on AED 93.8k of turnover. GCCDIV, the Lunate Solactive GCC Shariah Dividend ETF, recorded an AED 192k weekly outflow alongside a 1.1% daily and 3.0% weekly decline, and UAEA, the Lunate S&P UAE Shariah ETF, shed AED 147k over the week. Against that, QUANTM, the Boreas Solactive Quantum Computing UCITS ETF, drew the week's largest ETF inflow at AED 155k despite falling 3.3% on the day.
On return alone, TURKI, the Lunate S&P Turkey Shariah ETF, was Friday's best ETF, up 3.2% on the day and 5.5% on the week, but on only 410 shares, so the print carries little liquidity weight. SAUDIA, the Lunate S&P KSA Shariah ETF, added 1.5% on the day, a move that sits alongside reported Saudi foreign-ownership reform that could redirect index-tracking flows toward the kingdom. Several funds, including SUKUK, the Lunate JP Morgan Global Sukuk ETF, and USTBILL, the Lunate iBOXX US Treasury Bill ETF, did not trade at all on Friday, a reminder of how uneven liquidity remains across the ADX ETF shelf.
Equities
Equity strength was narrow and sat in the ADNOC complex. ADNOCLS, ADNOC Logistics & Services, rose 3.0% on the day and 8.3% on the week on slightly above-average volume and AED 66.92m of turnover. ADNOCDRILL, ADNOC Drilling Company, added 2.0% on the day, a session in which the company extended Al Ramz Capital's appointment as its liquidity provider. ADNOCDIST, Abu Dhabi National Oil Company for Distribution, gained 0.5% with an AED 17.4m weekly net inflow, the largest positive weekly equity flow on the board, and signed a long-term agreement tied to its proposed acquisition of Shell Downstream South Africa. SIB, Sharjah Islamic Bank, was the exception among lenders, up 2.1%, and 2POINTZERO, Two Point Zero Group, rose 1.5% on 2.3 times average volume.
The weak spot was banking. FAB, First Abu Dhabi Bank, fell 3.4% on 1.1 times average volume, ADCB, Abu Dhabi Commercial Bank, lost 2.4% on 1.3 times, and ADIB, Abu Dhabi Islamic Bank, slipped 0.9% on 1.7 times average volume while topping the turnover table at AED 82.93m, with an AED 54.9m weekly net outflow behind it. IHC, International Holding Company, eased 0.8% and carries the market's largest weekly net outflow at roughly AED 81.6m. ADPORTS, Abu Dhabi Ports Company, was flat at plus 0.2% on just 0.4 times average volume as trading in the shares resumed on 21 August following the results of its board meeting held the same morning.
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