ADX and DFM reopen after Iran strikes suspension, capping declines at 5% as stocks slide 3-5%; SCA monitors for stability amid damage assessments.
UAE stock exchanges, including the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM), resumed trading today after a precautionary two-day suspension prompted by Iran’s missile and drone strikes on Gulf targets. The halt from March 2-3 froze billions in assets as regulators assessed infrastructure damage to airports, ports, and residential areas, preventing panic selling amid geopolitical uncertainty.
The Securities and Commodities Authority (SCA) coordinated the closure to maintain stability, monitoring developments continuously before greenlighting operations. Nasdaq Dubai also restarted, with both markets temporarily capping daily declines at 5% to curb volatility—ADX’s sharpest drop since May 2022 hit 3.6%, while DFM fell nearly 5%, dragging lenders like First Abu Dhabi Bank down 5%.
Major firms shifted to remote work during the pause, testing continuity plans and preparing sites for phased reopenings. SCA urged listed companies to disclose operational impacts promptly, prioritizing investor protection. Analysts like Faisal Bilal of Noor Capital noted uncertainty as a key factor, with energy prices and global cues influencing sentiment.
This marks the first such halt since regional tensions spiked, signaling regulators’ proactive stance on financial resilience. Markets showed orderly reopening despite sell-offs, with SCA ready for further measures if needed.
