Key Highlights
- USVALUE, the Lunate S&P US Shariah Value ETF, rose 1.6% on the day on volume 10.7 times its 7-day average, with AED 97.4k traded (Nukoud calculations based on Nukoud Analytics).
- USGRWTH, the Lunate S&P US Shariah Growth ETF, added 1.1% on the day and led all ETFs on notional at AED 257.5k, 4.3 times normal volume.
- TURKI, the Lunate S&P Turkey Shariah ETF, was the day's best-performing ETF, up 6.6%; QUANTM, the Boreas Solactive Quantum Computing UCITS ETF, was the worst, down 6.5%.
- UAED, the Lunate S&P UAE UCITS ETF, fell 2.5% on the day; UAEA, the Lunate S&P UAE Shariah ETF, lost 1.1% but holds the largest weekly ETF net inflow at AED 175k.
- SAUDIA, the Lunate S&P KSA Shariah ETF, gained 1.8% on the day yet carries a weekly net outflow of AED 1.24m, the largest among ETFs.
- BILDCO, the Abu Dhabi National Co. for Building Materials, was the top equity, up 10.3% on the day; ADNOCDRILL, the ADNOC Drilling Company PJSC, was the weakest, down 4.0%.
- ADNOCGAS, ADNOC GAS PLC, fell 2.4% on the day with a weekly net outflow of AED 552.6m, the largest on the board.
Market Overview
Monday's session on the Abu Dhabi Securities Exchange broke along geographic lines, and the ETF tape told the story most cleanly. Funds tracking US equities led: USVALUE, the Lunate S&P US Shariah Value ETF, rose 1.6% on 10.7 times its 7-day average volume, and USGRWTH, the Lunate S&P US Shariah Growth ETF, added 1.1% while posting the largest ETF notional of the day at AED 257.5k. Domestic exposure went the other way. UAED, the Lunate S&P UAE UCITS ETF, dropped 2.5% and CHADX15, the Lunate FTSE ADX 15 ETF, slipped 0.8% on 4.5 times normal volume, consistent with a red day across most listed equities.
The counterpoint is that the local weakness was not uniform. ADNOCLS, ADNOC LOGISTICS & SERVICES PLC, rose 3.0% on 2.5 times its average volume as asset managers report growing institutional interest in shipping amid the Middle East conflict, a session in which oil topped $90 after the first US-Iran exchange of fire in a month. And UAEA, the Lunate S&P UAE Shariah ETF, despite falling 1.1% on the day, retains the largest weekly ETF net inflow at AED 175k, so the flow picture is less bearish than the price action.
ETFs
The US pair stood out on both price and activity. USVALUE traded 18,684 shares against a 7-day average of 1,753, and USGRWTH's AED 257.5k in notional was the highest of any ETF-marked line on Monday. Both remain in weekly net redemption, at AED 65k and AED 111k respectively, so the day's buying followed a week of net selling rather than extending an inflow trend.
TURKI, the Lunate S&P Turkey Shariah ETF, delivered the best 1-day ETF return at 6.6%, taking its 1-week gain to 9.0%, though it recorded AED 109k in weekly net outflows and traded below its 7-day average volume. QUANTM, the Boreas Solactive Quantum Computing UCITS ETF, was the mirror image, down 6.5% on the day on 2.4 times normal volume.
SAUDIA, the Lunate S&P KSA Shariah ETF, is the flow story of the week. Its AED 1.24m net outflow dwarfs every other ETF flow figure on the board, and it came in a week when four Saudi names are set to exit MSCI indices at the rebalance and the Saudi main index closed lower at 11,158. The fund still rose 1.8% on Monday on just 0.17 times its average volume, a thin bounce against a heavy week of redemptions.
Among domestic trackers, UAEA turned over AED 128.3k, second only to USGRWTH, on 2.1 times normal volume. LUXURY, the Boreas S&P Absolute Luxury UCITS ETF, gained 2.2% on 8.2 times its average volume, one of the more unusual activity readings of the day. BONDAE, the Lunate JP Morgan UAE Bond UCITS ETF, did not trade.
Equities
Equity strength was narrow. BILDCO, the Abu Dhabi National Co. for Building Materials, jumped 10.3% on 2.9 times its 7-day average volume, extending its 1-week gain to 14.9%. ADNOCLS added 3.0% and turned over AED 171.97m, and ALDAR, Al Dar Properties, edged up 0.3% on the day while trading 3.5 times its normal volume with AED 234.43m in value. ADPORTS, the Abu Dhabi Ports Company PJSC, rose 0.7% and is the only large-cap with a positive weekly net flow, at AED 7.6m.
The rest of the board was lower. ADNOCDRILL fell 4.0% and ADCB, Abu Dhabi Commercial Bank, lost 3.6%, both on more than twice normal volume. Banks were weak across the group, with ADIB, Abu Dhabi Islamic Bank, down 2.8% and FAB, First Abu Dhabi Bank, off 1.2% on 3.4 times its average volume.
Weekly flows lean firmly negative. ADNOCGAS's AED 552.6m outflow leads, followed by ALDAR at AED 188.6m and IHC, International Holding Company PJSC, at AED 157.1m, even though IHC's 0.8% decline on Monday came with 4.3 times normal volume and the day's largest equity notional at AED 247.92m.
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.
