Dubai's DFM sets new record, while ADX powers up with 2% gain in 'relief rally'

Across Gulf stock markets, investors cheer ceasefire deal between Israel-Iran

Last updated: June 24, 2025 | 11:23

Manoj Nair, Business Editor

2 MIN READ

The DFM has gone past an earlier high that was set as recently as in May last.

Gulf News Archive

Dubai: UAE stock markets are seeing a ‘relief rally’, with the DFM shooting all the way to a new record high after a 3% gain by 11:15am. The DFM general index is at 5,576 points, going past the previous high of 5,438 points on May 22.

The May high point came about after going past levels that had been set in 2014.

Also Read: Dubai Financial Market breaks 11-year record - can it sustain the pace?

In Abu Dhabi, the ADX too is on the up, by 2.12%, as investors liked all the talk about a ceasefire deal being agreed upon by Israel and Iran and which would help soothe concerns about the Middle East and the wider global economy.

On DFM, Air Arabia was leading the way with a 7% surge in its stock price, as airlines stand to benefit the most from the clearing away of hostilities in the region ahead of summer flying season.

flynas flying high on Saudi Tadawul

The same is being seen with the Saudi flynas stock, up over 6% around 11:30 mark. This is quite a rebound after the stock listed on Saudi Tadawul, facing a turbulent few days as investors took stock of what the Israel-Iran situation could do.

The Saudi Tadawul general index is fleeing a 1.77% surge at the moment.

Interestingly, DFM and ADX opened the week positive even amidst heightened concerns of what's next for the region after the US bombing of Iran's nuclear facilities on Saturday.

Aldar and Abu Dhabi banks

The Abu Dhabi developer Aldar's stock has shot up by 8% after 90 minutes of trading, while banking heavyweights ADIB and ADCB are both up a near 6%.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.