UAE Equity Research - Banking Sector 1Q25 - Preview Note

The UAE banking sector witnessed strong growth in domestic and international credit after easing interest rates in FY2024. Robust expansion in the private corporate sector led to solid growth in domestic credit supported by a healthy growth in retail advances. On the other hand, strong deposits growth sustained favourable liquidity maintaining adequate funding capacity within the system.

ADNOC Gas: The stock has recovered from the lower support level of AED3.13, and is currently trading close to the resistance level of AED3.34. A breakout above this level could initiate a bullish move towards the next resistance levels at AED 3.50 and then toward the previous high at AED 3.69. Traders may look to BUY with stops placed below AED3.13...

Talabat Holding PLC: The stock shall extend gains next towards the AED1.53/1.65 level in the medium term as trading over the support level of AED1.40. Traders may look to buy with stops below AED1.35 support.

Annual Dividends 2024 for UAE Markets (Updated)

Talabat Holding PLC: The stock shall extend gains next towards the AED1.53/1.65 level in the medium term as trading over the support level. Traders may look to buy with stops below AED1.35 support.

The stock is gradually gaining momentum and recover from the support level of 4.90, poised for another bullish run. The next higher target is set at AED5.64 then toward the previous high again at AED6.00 only if breaks over the current resistance level at AED5.28 in the short to medium term. Traders may look to BUY with stops placed below AED4.90 s...