DFM posts solid Q2 trading volumes growth
Dubai, July 8, 2013
Dubai Financial Market (DFM), one of Arab world's leading bourses, said the value of shares traded during the second quarter surged by 82.4 per cent to reached Dh38 billion ($10.3 billion) compared to Dh20.8 billion the previous quarter.
Announcing the second quarter results, DFM said the general index increased by 21.5 per cent to 2222.6 points at the end of the quarter compared to 1829.2 points at the end of last quarter.
At the sectoral level, indexes of seven out of the nine sectors represented on DFM ended the quarter in the green, with the financial and investment services sector increasing the most by 49.8 per cent, followed by the banking and the telecommunication sectors by 31.2 per cent, and 23.9 per cent respectively, said the Dubai bourse in a statement.
The consumer staples sector index did not change during the quarter, while the insurance index decreased by 4.3 per cent, it stated.
The market capitalization increased at the end of the quarter by 4.5 per cent amounting to Dh213.4 billion compared to Dh204.2 billion at the end of previous quarter, the statement added.
According to DFM, the number of shares traded increased by 74.4 per cent to reach 28.5 billion shares compared to 16.4 billion shares the previous quarter. The number of transactions executed during the period rose 51.6 per cent to reach 328.7 thousands compared to 216.8 thousand deals carried out during the previous quarter.
On the sector-wise contribution to trading volumes, the real estate and construction sector ranked first in terms of the traded value at Dh13.830 billion, or 36.4 per cent of the total traded value in the market.
The banking sector ranked second at Dh9.184 billion (24.2 per cent), followed by the financial and investment services sector with Dh8.24 billion (21.7 per cent), the services sector with Dh2.252 billion (5.9 per cent), the transportation sector with Dh2.221 billion (5.8 per cent), the telecommunication sector with Dh1.473 billion (3.9 per cent), and the insurance sector with Dh777.1 million (2 per cent), whilst other sectors shared the rest of trading volumes.
The Dubai bourse said the value of stocks bought by foreign investors during the quarter soared to Dh16.5 billion comprising 43.4 per cent of the total traded value. The value of stocks sold by foreign investors during the same period reached Dh16.2 billion comprising 42.8 per cent of the total value traded.
Accordingly, DFM net foreign investment in-flow reached Dh251 million, the statement added.
The value of stocks bought by institutional investors during the quarter reached Dh9.21 billion comprising 24.2 per cent of the total traded value. The value of stocks sold by institutional investors reached Dh8.941 billion which constitutes 23.5 per cent of the total value traded.
The net institutional investment in-flow into DFM amounted to Dh265.9 million, said the Dubai bourse in its statement.-TradeArabia News Service