Foreigners buy $309m stocks on DFM
Dubai, September 2, 2012
Dubai Financial Market (DFM), one of Arab world's leading bourses, said foreign investors bought stocks worth Dh1.134 billion ($308.6 million) in August, which was 50.7 per cent of the total traded value.
Announcing this on Sunday, DFM said the market capitalization increased at the end of this month to Dh179.5 billion, up 0.3 per cent compared to Dh179 billion the previous month.
DFM said its general index increased by 0.3 per cent to hit 1547.82 points at the end of August compared to 1542.64 points in July.
At the sectoral level, indexes of four out of the nine sectors represented on the bourse ended the month in the green, with the telecommunication sector increasing the most by 5.6 per cent, followed by the transportation and banks sectors by 2.3 per cent, and 1.5 per cent respectively, said the bourse in its statement.
According to DFM, the value of stocks traded during August fell 21.3 per cent to reach Dh2.2 billion from Dh2.8 billion in July.
Of this, the value of stocks sold by foreign investors reached Dh1.098 billion comprising 49.1 per cent of the total value traded. Accordingly, DFM net foreign investment in-flow reached Dh35.7 million.
The consumer staples sector’s index has not changed during this month, while the services, real estate and contraction and insurance indices decreased by 3.2 per cent, 2 per cent, and 0.7 per cent respectively, the DFM said in a statement.
The number of stocks traded decreased by 9.8 per cent to reach 1.9 billion stocks during this month compared to 2.2 billion stocks traded in July.
The number of transactions executed during August fell down by 15.3 per cent to reach 313,000 compared to 369,000 deals carried out during the previous month.