Key Highlights
- CHHK, the Lunate S&P China HK Shariah ETF, traded AED 230.1k on 64,999 shares, ranking 1st by value on the ETF board; it closed 4.62% lower against its 2026-10-20 close, a two-session move, and is down 6.65% over the week from its 2026-10-13 base.
- AIPOWR, the Boreas S&P AI Data Power & Infrastructure UCITS ETF - AED (Dist), was the ETF board's worst one-day performer at -1.82%, on 26,416 shares (AED 57.3k).
- INDI, the Lunate S&P India Shariah ETF, was the board's best one-day performer at +0.69%, on 3,645 shares (AED 10.5k).
- Exchange-wide turnover was AED 1.09bn across 89 active tickers, 6.2% higher than the previous session and 11.2% above the average of the 9 prior sessions in the feed.
- Of the 62 equities measured against the preceding session, 41 closed lower, 15 higher and 6 unchanged.
- IHC, International Holding Company PJSC, carries the equity board's heaviest net weekly selling pressure at AED 113.24m; ADNOCDRILL, ADNOC Drilling Company PJSC, the heaviest net weekly buying pressure at AED 58.58m.
- QUANTM, the Boreas Solactive Quantum Computing UCITS ETF Share Class B Distributing, carries the ETF board's heaviest net weekly buying pressure at AED 84.3k.
Market Overview
Thursday's ADX session was a decliner-heavy one that nonetheless drew more money than usual. Exchange-wide turnover reached AED 1.09bn across 89 active tickers, 6.2% higher than Wednesday and 11.2% above the average of the 9 prior sessions in the feed. On the ETF board the story was CHHK, the Lunate S&P China HK Shariah ETF, which took 37.2% of the board's AED 618.9k total and closed 4.62% lower against its 2026-10-20 close, a two-session move, on 54.44 times its seven-day average volume. The retreat tracks the pressure on Chinese assets abroad, where China's CSI 300 index shed 1.8% as global stocks fell.
The tension sits between rising activity and falling prices. Exchange-wide, AED 97.16m more value crossed at the bid than at the ask, and of the 62 equities with a previous-session base, 41 closed lower against 15 higher and 6 unchanged, with 9 further names excluded for lacking a previous-session close. Higher turnover on a session this one-sided reads as heavier trade into weakness, not a broad advance.
ETFs
CHHK's print was unusual on every axis the data measures. It was the ETF board's largest name by value, its volume multiple of 54.44 times a seven-day average of just 1,194 shares marks a name that had been quiet until this week, and it carries the board's heaviest net weekly selling pressure at AED 173.5k, ahead of LUXURY, the Boreas S&P Absolute Luxury UCITS ETF AED (Dist), at AED 44.3k and TURKI, the Lunate S&P Turkey Shariah ETF, at AED 33.1k. The fund is down 6.65% over the week from its 2026-10-13 base.
Behind it, USGRWTH, the Lunate S&P US Shariah Growth ETF, ranked 2nd by value at AED 96.5k, easing 0.76% on the day on 0.700 times its average volume. QUANTM, the Boreas Solactive Quantum Computing UCITS ETF Share Class B Distributing, ranked 3rd at AED 72.5k, closed unchanged and now carries the board's heaviest net weekly buying pressure at AED 84.3k, ahead of UAED, the Lunate S&P UAE UCITS ETF, at AED 68.3k and USGRWTH at AED 65.8k. That reverses the picture in Wednesday's Market Wrap, where QUANTM held the board's heaviest selling pressure.
Breadth was soft: of the 15 ETFs measured against the preceding session, 9 closed lower, 3 higher and 3 unchanged, with 3 further traded names excluded because their most recent prior close is older than the preceding session. AIPOWR, the Boreas S&P AI Data Power & Infrastructure UCITS ETF - AED (Dist), was the worst one-day performer at -1.82% on AED 57.3k, while INDI, the Lunate S&P India Shariah ETF, was the best at +0.69%, though on just AED 10.5k.
Two regional funds printed large multiples on small bases. KWTI, the Lunate S&P Kuwait Shariah ETF, was the board's busiest versus its own average at 150.00 times, on 3,750 shares (AED 14.4k), and SAUDIA, the Lunate S&P KSA Shariah ETF, traded 65.48 times its average of 240 shares on AED 48.5k, slipping 1.27% on the day. Both are awakenings of previously dormant names rather than drivers of the session. SAUDIA's weekly decline of 3.73% comes as Saudi Arabia's assets under management reached SAR 1.36 trillion in 2026, a reminder of the scale of the market the fund tracks.
Equities
ADNOCGAS, ADNOC GAS PLC, anchored the equity board, trading AED 314.60m on 2.79 times its seven-day average volume while closing only 0.31% lower. The elevated activity in the exchange's energy heavyweights came on a day oil prices jumped on reports the US and Israel are weighing fresh strikes on Iran, with Brent crude climbing above $107 amid Gulf supply risks. IHC, International Holding Company PJSC, ranked 2nd at AED 121.18m and closed unchanged, though it carries the board's heaviest net weekly selling pressure at AED 113.24m, ahead of ADNOCGAS at AED 81.82m and ADIB, Abu Dhabi Islamic Bank, at AED 68.99m.
The losses ran through the large caps. ALDAR, Al Dar Properties, fell 2.66% on 2.10 times its average volume, FAB, First Abu Dhabi Bank, lost 2.51%, and ADNOCLS, ADNOC LOGISTICS & SERVICES PLC, dropped 2.31%. The session also saw trading in Abu Dhabi Commercial Bank (ADCB) shares halted at 10:00 on 22 October; ADCB nonetheless sits second on the weekly buying-pressure ranking at AED 40.48m, behind ADNOCDRILL, ADNOC Drilling Company PJSC, at AED 58.58m.
Gainers were scarce but not absent. ESHRAQ, ESHRAQ INVESTMENTS PJSC, rose 3.63% on 2.72 times its average volume (AED 22.21m), NMDC, NMDC Group PJSC, added 1.58% on 5.24 times average, and AMR, AMERICANA RESTAURANTS INTERNATIONAL PLC, gained 0.84% on 4.91 times average. The best one-day performer board-wide was GCEM at +15.00% on AED 1.38m; the worst was FCI at -5.00% on AED 3.86m. With 32 equity names carrying positive weekly net pressure against 61 negative, the week's order-book skew remains to the sell side; whether IHC's AED 113.24m weekly figure eases is the number to check in Friday's session.
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.