On DFM and ADX, investors are ‘buying the dip’, while ADNOC’s Drilling and L&S dividends add to cheer

On DFM and ADX, investors are ‘buying the dip’, while ADNOC’s Drilling and L&S dividends add to cheer

Today, the bearish sentiments are in relative retreat, with DFM up 0.5 per cent after the first hour of trading, while ADX had gaoned 0.2 per cent.

Market watchers say investors – retail and institutional – are engaging in some ‘buying the dip’. “Al Ansari Financial Services (down 0.86 per cent) and ADNOC Distribution (up 0.85 per cent) had interesting prices to pick up more,” said one investor.

That sentiment – stretching across other stocks and across categories – was the prevailing one as the trades got underway. Emaar Properties and Union Properties are early gainers, while on ADX, IHC and Alpha Dhabi are winning it back.

Plus, two ADNOC entities - its Logistics & Services arm and the drilling entity - both made their interim dividend announcements, of Dh716 million and Dh1.3 billion, respectively. (For ADNOC Drilling, the last day for eligibility is October 17, while the record date for ADNOC L&S is October 19.)