The DFM General Index ended the week higher on 8 May 2026, rising +2.35% from AED 5,766.85 to close at AED 5,902.21. During the week, 30 stocks gained, 8 declined, and 3 remained unchanged.
The index was supported by several strong-performing names during the week. ALEC rose +8.21% to AED 1.45, while EMPOWER gained +7.89% to AED 1.64. SALIK advanced +5.42% to AED 5.84 and remained one of the biggest contributors to the index. EMAAR Properties also recovered strongly, rising +4.75% to AED 12.36. GULFNAV added +4.44% to close at AED 2.82. (Source: Bloomberg)
On the weaker side, AMLAK Finance was the worst performer, falling -20.11% to AED 1.43. SPINNEYS declined -3.33% to AED 1.16, while TABREED fell -1.45% to AED 2.71. (Source: Bloomberg)
Materials was the best-performing sector during the week, rising +4.84%, followed by Communication Services at +4.28% and Real Estate at +3.54%, also, Industrials gained +3.31%. Consumer Staples was the only sector to close lower, declining -3.10%. (Source: DFM Reports)
Parkin Company delivered strong Q1 results, with revenue up 41% YoY to AED 379.4M and net profit rising over 36% YoY to AED 185.1M. It also expanded by 49,000 parking spaces and saw seasonal card sales jump 129% YoY to a record 100,600.
Dubai Taxi Company reported weaker Q1 results, with net profit down 39% YoY to AED 50.7M and revenue down 6% YoY to AED 551.1M. However, performance in January and February was strong, and the decline was mainly driven by weakness in March.
Several major companies will report Q1 earnings next week, including EMAAR (11 May), DEWA (12 May), Salik (11 May), Air Arabia (14 May), Talabat Holding (11 May), Gulf Navigation (14 May), and Tabreed (13 May), according to Bloomberg.
This week, the index closed at AED 5,902 after bouncing from the AED 5,681 support level while holding above the 200-day EMA. The index is now showing ongoing recovery and could expect a potential move higher as its been consolidating between the middle and upper Bollinger Bands,
A breaks above AED 5,994, further gains could follow. On the downside, support is at AED 5,681, with stronger support around AED 5,436 near the 100-week EMA.
ADX
The ADX General Index marginally rose in the week ending May 8th, 2026, closing at AED 9,840. The index is 8.5% below its 52-week high on Feb 18, 2026, but still 5.8% above its low on March 16, 2026. The index is trading at a trailing PE ratio of 18.9 and an estimated earnings-based PE of 10.6, based on the members’ earnings this year.
From a fundamental standpoint, the technology index primarily drove all the gains, increasing by almost 14% in a week. The index was further supported by the Real estate, energy, and telecommunications indices, which rose by almost 4%, 3.5%, and 3%, respectively. Meanwhile, materials and consumer discretionary sectors fell by 3.5% and 2.3%, respectively. (Source: ADX Reports)
Next week is earnings-heavy, with major names reporting, including Abu Dhabi National Energy, ADNOC Gas, and ADNOC Drilling. Moreover, investors will closely watch macro and geopolitical developments to gauge their impact on market movements next week.
Among the top 20 stocks by market cap, notable companies that outperformed included Adnoc Drilling, rising by almost 7%; Abu Dhabi National Oil, rising by almost 4.86%; and Emirates Telecom Group, rising by 3%. On the contrary, those that underperformed significantly this week included Alpha Dhabi Holding, Abu Dhabi National Energy, and First Abu Dhabi Bank, which declined by 2.1%, 1.7%, and 1.2%, respectively. (Source: Bloomberg)
From a technical standpoint, the index is hovering around the 9-day SMA level at  AED 9,836. On the daily charts, the index looks like its forming a base since the past month. A break above the 200 day EMA level of AED 9,951 will confirm bullishness in the index. Conversely, if the macro conditions worsen, a break below the nearest support at AED 9,780 would be considered as bearish.
