- DFM:
The DFM General Index closed the week ending 14th November with a small 1.25% decline, near the AED 5,949 level. The index has been pressured recently, dragged by a slowdown in global equity indices.
The index was pressured by the lagging performance of stocks like Emirates NBD Bank, which fell by 7.91%; Talabat Holding, which fell by 8.67%, and Dubai Electricity & Water Authority, which fell by 1.79% for the week. Meanwhile, stocks that added some support this week included Emaar Properties, which rose by 1.47%; Mashreqbank, which dipped by 2.11%; and Emaar Development, which rose by 1.01%. (Source: Bloomberg)
During the week, Dubai Electricity & Water Authority reported record-breaking revenue of AED 24.9 billion (+5.9% YoY) for the first nine months of 2025. It also reported an EBITDA of AED 13.1 billion (+11.9% YoY), an operating profit of AED 8.3 billion (+21.5% YoY), leading to a net profit of AED 6.8 billion (+24.8% YoY).
Another prominent name, Salik, reported a 38.6% YoY increase in revenue to AED 2.28 billion for the first nine months of 2025. A robust profit margin of 69.6% resulted in an EBITDA of AED 1.58 billion (+42% YoY), while net profit came up to AED 1.14 billion (+39.1% YoY).
Other major names that reported earnings this week included Talabat, Air Arabia, Dubai Taxi, Spinneys, and Aramex.
In terms of sectors, Consumer Discretionary and Financials lagged this week, with declines of 6.89% and 2.51%, respectively. Conversely, sectors that outperformed this week included Materials and Real Estate, which rose by 1.46% and 0.95%, respectively. (Source: DFM Reports)
For the next week, no major names are expected to release earnings. (Source: Bloomberg)
On the technical front, the recent weakness in the index has seen prices fall below the key 50 and 100-day moving averages, suggesting a reversal in trend. The weak trend is further evident in the daily chart, where the RSI is now below the 50 mark and downward sloping, suggesting weakening momentum. The index can find potential support near the AED 5,905 levels from the lows of early September, while a significant upside can be capped near the AED 6,000 level from the 100-day SMA.
- ADX:
The ADX General Index fell 1.56% for the week ending November 14th, 2025, closing below AED 10,000 at AED 9,917.90. This marks the third weekly decline.
In terms of sectors, the Consumer Staples was the only one to post gains for the week, rising 1.77%. The rest of the sectors underperformed, with Technology, Real Estate, and Health Care being the major laggards, falling 11.82%, 6.95% and 4.06% respectively. Overall, the ADX sector performance mirrored global trends, following weakness in tech stocks amid risk-off sentiment.
Several companies announced earnings during the week, including TAQA, ADNOC Gas, ADNOC Logistics, Fertiglobe, Presight AI, and Lulu Retail. Lulu posted steady growth with Q3 revenue of about $1.89 billion and net profit of $36 million. ADNOC Gas reported revenue of $5.93 billion and net profit of $1.34 billion for the quarter. Its net profit hit a record high, fueled by strong domestic demand and strong margins. Looking ahead, Abu Dhabi Ports Co. PJSC is set to announce its earnings next week.
On the technical front, the index has fallen below a trendline marked by lows of 11th September, 26th September, and 11th November. This trendline had acted as a base for almost two months. On Monday, the index opened at the 50-day SMA but couldn’t hold above and has been falling since, with the index now trading below the 50-day and 100-day SMA. On the downside, the next support is at the 200-day SMA, around AED 9,818.75. On the flip side, the index might face resistance at AED 10,050.
