Key Highlights
- USGRWTH, the Lunate S&P US Shariah Growth ETF, traded AED 627.2k on 69,918 shares, 1st by value on the ETF board, 7.29 times its seven-day average volume, and is down 2.30% over the week from its 2026-10-22 base.
- JPANI, the Lunate S&P Japan UCITS ETF, was the busiest ETF relative to its own seven-day average volume at 48.72 times, on 53,875 shares (AED 303.4k); it is down 2.95% over the week from its 2026-10-22 base.
- GCCDIV, the Lunate Solactive GCC Shariah Dividend ETF, is up 3.24% over the week from its 2026-10-22 base and carries the heaviest net weekly buying pressure on the ETF board, AED 222.3k.
- USGRWTH carries the heaviest net weekly selling pressure on the ETF board, AED 189.1k, ahead of JPANI at AED 133.1k and QUANTM at AED 105.6k.
- Exchange-wide turnover was AED 860.12m across 93 active tickers, 23% below the average of the 9 prior sessions in the feed (AED 992.98m).
- ADIB, the Abu Dhabi Islamic Bank, is down 10.85% over the week from its 2026-10-22 base on AED 62.09m of session trade.
- UAB, the United Arab Bank, was the busiest equity relative to its own seven-day average volume at 90.76 times, on 4,085,541 shares (AED 5.71m).
Market Overview
Friday's session on the Abu Dhabi Securities Exchange was quiet in aggregate but carried a clear ETF story. The board's two largest names by value, USGRWTH, the Lunate S&P US Shariah Growth ETF, and JPANI, the Lunate S&P Japan UCITS ETF, both traded heavily against weekly declines and carry the board's two heaviest net weekly selling-pressure readings, a pattern consistent with the global tech rout that deepened after US earnings stoked AI spending fears and the near $900bn wiped off Big Tech. Exchange-wide turnover was AED 860.12m across 93 active tickers, 13.4% below the average of the 9 prior sessions in the feed.
The counterpoint sat within the ETF board itself. GCCDIV, the Lunate Solactive GCC Shariah Dividend ETF, is up 3.24% over the week from its 2026-10-22 base and carries the board's heaviest net weekly buying pressure, AED 222.3k. The divergence runs along geographic lines: the US and Japan trackers absorbed the week's selling pressure while the GCC dividend fund drew the buying. Note that every traded name's latest close is measured against a base older than the immediately preceding session, so no move in this wrap is a one-day move.
ETFs
USGRWTH dominated the board's value, trading AED 627.2k on 69,918 shares, 7.29 times its seven-day average volume of 9,596 shares. It closed 2.61% lower against its 2026-10-28 close, a two-session move rather than a daily one, is down 2.30% over the week, and carries AED 189.1k of net weekly selling pressure, the heaviest on the board. The timing fits the week's offshore backdrop, with Alphabet falling as AI spending outpaces cloud gains and Amazon and Intel sliding after earnings.
JPANI, second by value at AED 303.4k, was the busiest ETF relative to its own seven-day average volume at 48.72 times, on 53,875 shares. That extends the volume signal flagged in Thursday's Market Wrap, when JPANI topped the board on 18.30 times normal volume, though the fund is now down 2.95% over the week and carries AED 133.1k of net weekly selling pressure, second on the board behind USGRWTH. QUANTM, the Boreas Solactive Quantum Computing UCITS ETF Share Class B Distributing, ranked 3rd by value at AED 218.9k on 7.77 times its average volume, closed 5.08% below its 2026-10-28 close, and carries the board's third-heaviest net weekly selling pressure at AED 105.6k.
GCCDIV traded AED 45.2k on 12,943 shares, 5th by value, and closed 1.74% higher against its 2026-10-28 close. Its AED 222.3k of net weekly buying pressure leads the board, ahead of UAED, the Lunate S&P UAE UCITS ETF, at AED 153.0k and CHHK, the Lunate S&P China HK Shariah ETF, at AED 33.4k. Across all 26 ETF board listings with a seven-day net-pressure figure, including 11 that did not trade today, 9 carry positive weekly net pressure and 14 negative, so the bid-side tilt remains the board's broader condition.
Among smaller prints, UAEA, the Lunate S&P UAE Shariah ETF, traded AED 52.6k and is down 1.03% over the week, while SUKUK, the Lunate JP Morgan Global Sukuk ETF, traded AED 15.4k and closed unchanged against its 2026-10-28 close. 15 of the 26 listed ETFs traded in a board total of AED 1.30m; the thinnest versus its own average was USVALUE, the Lunate S&P US Shariah Value ETF, at 0.006 times, on 8 shares (AED 45), a rounding error against the board.
Equities
The equity board traded AED 858.83m, with 78 of the 104 listed equities active. FAB, First Abu Dhabi Bank, led by value at AED 116.45m on 2.01 times its seven-day average volume, closing 2.73% below its 2026-10-28 close. ALDAR, Al Dar Properties, followed at AED 108.40m; it is up 1.17% over the week from its 2026-10-22 base and carries the heaviest net weekly buying pressure on the equity board, AED 33.15m, ahead of ETISALAT, Emirates Telecommunications Group Company PJSC, at AED 21.75m and ADAVIATION, Abu Dhabi Aviation Co, at AED 17.54m.
The weak spot was concentrated in banks and holding companies. ADIB, Abu Dhabi Islamic Bank, traded AED 62.09m, closed 8.97% below its 2026-10-28 close and is down 10.85% over the week, the continuation of the decline flagged in Thursday's wrap. IHC, International Holding Company PJSC, carries the heaviest net weekly selling pressure on the equity board, AED 21.85m, with ADNOCGAS, ADNOC GAS PLC, at AED 14.72m and ADNOCLS, ADNOC LOGISTICS & SERVICES PLC, at AED 11.81m behind it. Exchange-wide, AED 55.37m more value crossed at the bid than at the ask.
ADNOCDRILL, ADNOC Drilling Company PJSC, was a bright spot among large names, up 3.00% over the week from its 2026-10-22 base on AED 43.41m of trade. UAB, United Arab Bank, normally thinly traded, was the busiest equity versus its own seven-day average at 90.76 times, on AED 5.71m of value, and closed 14.62% above its 2026-10-28 close, though it remains down 5.10% over the week from its 2026-10-20 base. ADIB's weekly base of 2026-10-22 marks the level to track into next week's sessions.
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.