Key Highlights
- UAEA, the Lunate S&P UAE Shariah ETF, led the ETF board at AED 101.8k, closing 0.79% lower on the day on 2.20 times its seven-day average volume.
- CHHK, the Lunate S&P China HK Shariah ETF, was the board's busiest versus its own average at 12.35 times, on 14,060 shares (AED 51.7k), closing 1.07% lower on the day.
- KWEB, the KraneShares CSI China Internet ETF, was the ETF board's best one-day performer at +2.93%, though on just 100 shares (AED 9.1k).
- UAED, the Lunate S&P UAE UCITS ETF, carries the ETF board's heaviest net weekly buying pressure at AED 209.5k; USGRWTH, the Lunate S&P US Shariah Growth ETF, the heaviest selling pressure at AED 225.4k.
- Exchange-wide turnover was AED 982.96m across 91 active tickers, 27.1% lower than the previous session and 6.2% below the nine-session average.
- ADNOCDRILL, ADNOC Drilling Company PJSC, closed 2.01% higher on the day on 1.51 times average volume; ASM, Al Seer Marine Supplies & Equipment Company P.J.S.C, was the equity board's worst performer at -4.02% (AED 7.25m).
- IHC, International Holding Company PJSC, topped equity value at AED 192.99m and carries the board's heaviest net weekly selling pressure at AED 136.26m.
Market Overview
The ETF board's UAE trackers remained the centre of gravity on Friday 9 October. UAEA, the Lunate S&P UAE Shariah ETF, ranked first by value at AED 101.8k and closed 0.79% lower on the day on 2.20 times its seven-day average volume, leaving it down 1.13% over the week from its 2026-10-02 base. That extends the home-market ETF weakness flagged in Thursday's Market Wrap, when UAED led the board and fell 1.69%. The tension persists: UAED still carries the board's heaviest net weekly buying pressure at AED 209.5k, with UAEA second at AED 118.7k, even as both funds' prices drift lower.
The equity board pulled the other way. Of the 68 equities with a one-day base in the preceding session, 32 closed higher, 28 lower and 8 unchanged, with 3 further names excluded for having no prior close. Yet activity thinned sharply: exchange-wide turnover of AED 982.96m was 27.1% below Thursday's AED 1.35bn and 6.2% below the nine-session average, so the modestly positive breadth came on a quieter tape.
ETFs
The board traded AED 462.4k across 20 of its 24 listed funds, with 10 of the 18 measurable names closing lower, 6 higher and 2 unchanged; two further funds, AGIX and BONDAE, traded against bases older than the preceding session and sit outside that count. UAEA dominated with 22.0% of the board's value and TURKI, the Lunate S&P Turkey Shariah ETF, ranked second at AED 54.3k, down 0.15% on the day on 3.61 times its average volume and down 4.67% over the week from its 2026-10-01 base.
GCCDIV, the Lunate Solactive GCC Shariah Dividend ETF, ranked third at AED 52.8k, closing 0.87% lower on the day, while UAED ranked fifth at AED 44.5k, down 0.34% on the day on 0.492 times its average volume. The divergence between the UAE funds' price direction and the order-book picture is the week's defining ETF signal: UAED, UAEA and GCCDIV occupy all three spots on the board's net weekly buying-pressure ranking, at AED 209.5k, AED 118.7k and AED 57.7k respectively, yet each is lower over the week.
China exposure produced the day's most unusual activity. CHHK, the Lunate S&P China HK Shariah ETF, was the board's busiest name against its own seven-day average at 12.35 times, on 14,060 shares (AED 51.7k), though it closed 1.07% lower on the day. KWEB, the KraneShares CSI China Internet ETF, was the board's best one-day performer at +2.93%, on just 100 shares (AED 9.1k). The elevated interest in China trackers coincides with DeepSeek's $12bn funding round, which has been moving China AI-exposed ETFs.
On the other side, USGRWTH carries the heaviest net weekly selling pressure at AED 225.4k despite trading only AED 5.9k in the session, followed by JPANI, the Lunate S&P Japan UCITS ETF, at AED 105.3k and AIPOWR, the Boreas S&P AI Data Power & Infrastructure UCITS ETF, at AED 51.5k. GRMNY, the Lunate S&P Germany UCITS ETF, was the board's worst one-day performer at -2.31%, on 5,320 shares (AED 24.7k) and 4.93 times its normally thin average. Whether UAED's weekly buying pressure persists next week against its continuing price slide is the figure to watch.
Equities
Energy-linked names supplied the session's strength. ADNOCGAS, ADNOC GAS PLC, closed 1.55% higher on AED 122.73m, 1.43 times its average volume, while ADNOCLS, ADNOC LOGISTICS & SERVICES PLC, rose 1.76% on AED 79.63m and is up 6.67% over the week from its 2026-10-02 base. ADNOCDRILL, ADNOC Drilling Company PJSC, added 2.01% on AED 54.92m, and ALDAR, Al Dar Properties, gained 1.01% on AED 102.07m; ALDAR also carries the equity board's heaviest net weekly buying pressure at AED 36.55m, ahead of LULU, LULU RETAIL HOLDINGS PLC, at AED 28.18m and FAB, First Abu Dhabi Bank, at AED 26.21m.
IHC, International Holding Company PJSC, was the day's largest name by value at AED 192.99m, closing 0.03% higher on 1.93 times its average volume while carrying the board's heaviest net weekly selling pressure at AED 136.26m, with ADNOCGAS second at AED 55.18m and BOROUGE, Borouge PLC, third at AED 30.36m. The weak spots were elsewhere: FAB closed 0.64% lower and is down 4.24% over the week, EAND, Emirates Telecom. Group Company (Etisalat Group) PJSC, fell 1.15%, and ASM, Al Seer Marine Supplies & Equipment Company P.J.S.C, was the board's worst performer at -4.02% on AED 7.25m. On the weekly tape, 30 equity names carry positive net pressure against 54 negative, so Friday's positive one-day breadth sits inside a week that leaned towards the bid.
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.