Developments around Venezuela continue to make headlines, as they affect oil prices in the region. President Trump has asked Venezuela to sell up to 50m barrels of oil to the U.S. This is expected to release Venezuelan oil which has been struggling to find its way to market.
OPEC+ met on 4th January and decided to keep oil output steady for January 2026, February 2026, and March 2026 following a more than 18% decline in prices in 2025 and low demand. The members will meet again on Feb. 1 2026.
The S&P Global UAE PMI came in at 54.2 in December 2025. This figure is down from 54.8 in November 2025 but still above the 50 mark which suggests expansion in activity. Companies took a more cautious approach towards employment and adopted lean inventory strategies since input costs increased at their sharpest rate in 15 months.
- DFMGI (DFM General Index):
The DFM General Index rose around 2% for the week ending 9th January 2026 and closed at AED 6,225. The index is near the 18 year high of $6,256.
Companies that moved the index up were Air Arabia (31%), Emirates NBD (16%), and Emaar Development (13%). The stocks which moved the index down were Gulf Navigation (5%) and Dubai Investments (3%). Â (Source: Bloomberg)
In terms of sectors, Communication services, Industrials, and Consumer staples were all up around 3%. The worst performing sector was Materials which fell approx. 4%, followed by Consumer Discretionary, which was down around 2%. (Source: DFM Report Center)
In corporate news, Taaleem Holdings (DFM:TAALEEM) on Thursday reported positive fiscal first-quarter revenue growth, driven by rising premium school enrollments across new and recently expanded campuses. The company’s revenue was 369 million Emirati dirhams, up from the restated 306 million dirhams, supported by a 13% year-over-year rise in premium schools enrollment. (Source: Bloomberg)
On the daily chart, the index closed above the 9-SMA level. RSI is near 65 indicating strong bullish momentum for the week ahead. Potential support is seen at the 21 SMA level of AED 6,129, followed by AED 6,035, which coincides with the 50 SMA. The index is currently at multi year highs and has resistance at the AED 6,320 which was last seen in 2008. Beyond this, the AED 6,400 level can be next target.
- ADX (Abu Dhabi Securities Exchange):
The ADX General Index marginally rose in the week ending January 9th, 2026, closing at AED 10,009.
From a sector perspective, the utilities index declined by 5%, followed by energy and consumer staples, which declined around 2% each. The index was supported with gains in the real estate (+2%) and healthcare index (+1%) (Source: ADX Reports)
News-wise, Borouge, an Abu Dhabi-listed petrochemical company, partnered with Honeywell and successfully finalised a proof-of-concept for AI-driven autonomous operations at the Ruwais Facility in Abu Dhabi.
Looking at earnings, there are no major releases scheduled for this week or next. (Source: Bloomberg)
Among the top 20 stocks by market cap, those that outperformed were notable names such as Aldar Properties PJSC and Abu Dhabi Commercial Bank, which rose by 4% and 3%, respectively. On the contrary, those that underperformed significantly this week included Abu Dhabi National Energy, Adnoc Logistics & Services, and Adnoc Gas plc, which declined by 7%, 4%, and 2%, respectively. (Source: Bloomberg)
From a technical standpoint, the index is trading above the 50-Day SMA at AED 9,831. On the weekly charts, a symmetrical triangle pattern can be observed connecting the lows at AED 9,157 and AED 9,747, and the highs at AED 10,340 and AED 10,201, respectively. A break above AED 10,070 will indicate further bullishness for the index. Otherwise, support is seen at the lower trendline of the triangle at AED 9,825, followed by the 200-day moving average at AED 9,662.
