• Saudi Flag
    First Look Notes
    22 Jan 2026
    Almarai Co
    SAR 43.00
    SAR 65.00
    +51.16%
    BUY

    Saudi Equity Research - Almarai Company 4Q25 - First Look Note

    Working capital rose from SAR 3,812 Mn in 4Q24 to SAR 4,122 Mn in 4Q25, due to inventory buildup ahead of Ramadan. The Company’s CAPEX expanded from SAR 3,634 Mn in 2024 to SAR 4,385 Mn in 2025, driven by capacity expansion and long-term value creation initiatives. Download

  • UAE Flag
    Technical Analysis Report
    22 Jan 2026

    Weekly Market Outlook - Abu Dhabi Securities Exchange (ADX) 22-01-2026

    Pure Health Holding: The stock was recommended as a 'Buy' at AED2.58, following a fast recovery that broke key resistance at AED2.78, the stock is poised for further gains toward the resistance level at AED 2.94, a break over shall extend the upward trend toward the previous high again at AED 3.13 in the short term. Traders may look to HOLD with stops trailed higher to AED2.68. Download

  • UAE Flag
    Quarterly Earning Forecast
    21 Jan 2026

    Quarterly Earnings Forecast for UAE Equities - 4Q25 - Arabic

    The UAE banking system's domestic advances rose by 9.7% YOY and 0.4% MOM to AED 2,037.5 Bn in November 2025. On the other hand, deposits continued to grow at a faster rate, recording a 15.4% YOY and 1.0% MOM growth to AED 3,236.5 Bn in November 2025. Download

  • Trending Reports

    FIRST LOOK NOTES
    08 Aug 2025
    Egypt Flag
    EGP 100.00
    EGP 115.00
    +15.00%
    FIRST LOOK NOTES
    11 Aug 2025
    Saudi Flag
    SAR 57.35
    SAR 65.00
    +13.34%
    FIRST LOOK NOTES
    15 Aug 2025
    UAE Flag
    AED 1.09
    AED 1.05
    -3.67%
  • Technical Analysis Report

    • 22 Jan 2026 - UAE
    • 15 Jan 2026 - UAE
  • ADX

      • 10,304.92
        99.21    (0.97%)
      • As of closing 22 Jan 26
      • 52 Week Range
        8,771.73 L 10,382.44 H
    • Turnover ( AED ) 2,005,735,000
      Volume 433,796,900
      Market Cap ( AED ) 2,893,053,054,996

    DFM

      • 6,495.17
        97.83    (1.53%)
      • As of closing 22 Jan 26
      • 52 Week Range
        4,631.88 L 6,398.12 H
    • Turnover ( AED ) 1,193,997,000
      Volume 431,949,500
      Market Cap ( AED ) 990,116,969,504

    Tadawul

      • 11,102.68
        154.40    (1.41%)
      • As of closing 22 Jan 26
      • 52 Week Range
        10,281.49 L 12,536.28 H
    • Turnover ( SAR ) 5,480,650,000
      Volume 216,966,600
      Market Cap ( SAR ) 9,243,905,377,927

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Recent Research

  • Saudi Flag
    FIRST LOOK NOTES
    22 Jan 2026
    Almarai Co
    BUY
    SAR 43.00
    SAR 65.00
    +51.16%

    Saudi Equity Research - Almarai Company 4Q25 - First Look Note

    Working capital rose from SAR 3,812 Mn in 4Q24 to SAR 4,122 Mn in 4Q25, due to inventory buildup ahead of Ramadan. The Company’s CAPEX expanded from SAR 3,634 Mn in 2024 to SAR 4,385 Mn in 2025, driven by capacity expansion and long-term value creation initiatives.
  • UAE Flag

    Pure Health Holding: The stock was recommended as a 'Buy' at AED2.58, following a fast recovery that broke key resistance at AED2.78, the stock is poised for further gains toward the resistance level at AED 2.94, a break over shall extend the upward trend toward the previous high again at AED 3.13 in the short term. Traders may look to HOLD with s...

  • The UAE banking system's domestic advances rose by 9.7% YOY and 0.4% MOM to AED 2,037.5 Bn in November 2025. On the other hand, deposits continued to grow at a faster rate, recording a 15.4% YOY and 1.0% MOM growth to AED 3,236.5 Bn in November 2025.

  • The UAE banking system's domestic advances rose by 9.7% YOY and 0.4% MOM to AED 2,037.5 Bn in November 2025. On the other hand, deposits continued to grow at a faster rate, recording a 15.4% YOY and 1.0% MOM growth to AED 3,236.5 Bn in November 2025.

  • UAE Flag
    SECTOR NOTE
    19 Jan 2026
    Energy

    UAE Equity Research - Energy Sector 4Q25 - Preview Note

    ADNOC Distribution remains our preferred choice over ADNOC Drilling, ADNOC Gas, and Dana Gas, supported by strong earnings visibility and diversified growth engine. ADNOC Distribution continued to execute on its network growth strategy, expanding to 977 service stations and 533 convenience stores ac...

  • UAE Flag
    INITIAL COVERAGE (EQUITIES)
    19 Jan 2026
    NMDC Energy
    BUY
    AED 2.36
    AED 4.00
    +69.49%

    UAE Equity Research - NMDC Energy - Initiation Coverage

    We initiate coverage on NMDC Energy (“NMDC” or “the Company”) with a valuation of AED 4.00 per share. NMDC Energy is listed on the ADX and is a leading EPC solutions provider in the UAE, harnessing the power of innovation to address the energy sector’s evolving needs.

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