DFM General Index jumps above 2000 pts
Foreign investors net DFM sellers by AED 20.52 mln
Dubai Financial Market General Index (DFMGI) ended Wednesday in the green, rocketing 2.70%, or around 55 pts, to settle above the 2000 level at 2084.34, after hitting an intraday high of 2085.82.
Total trading volume surged to nearly 502.5 million shares, compared to 186.4 million shares yesterday. Similarly, turnover climbed from AED 400.5 million to more than AED 869.9 million. The number of transactions reached 8060, according Mubasher data.
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Non-Arab foreign investors bought shares at a net value of approx. AED 105.65 million on Dubai Financial Market (DFM) today and sold shares amounting to almost AED 104.61 million.
Non-GCC Arabs purchased stocks worth around AED 180.20 million, compared to about AED 166.05 million worth of sell transactions.
GCC traders bought shares at a value totaling AED 37.75 million and sold stocks at a total value of nearly AED 73.47 million.
Accordingly, non-UAE foreign investors purchased shares at a net value of approx. AED 323.60 million, accounting for 37.20% of total buy transactions. Meanwhile, they sold stocks amounting to about AED 344.12 million, representing 39.55% of total sell transactions.
Consequently, foreign investment netted approx. AED 20.52 million as a sell turnover.
Total 26 out of 29 traded securities headed north, one headed south, while two others kept unchanged.
Al Madina topped gainers, skyrocketing 15% to AED 6.21, after 9.225 thousand shares were traded through two transactions. Drake & Scull took the second position, jumping 5.38% to AED 0.98. The stock led most actives by a trading volume of approx. 123 million shares – the highest since more than two months- exchanged at a total value of almost AED 119 million.
Emirates NBD ranked third, rising 4.87% to break through the AED 4 level to close at AED 4.09, after about 3.8 million shares changed hands.
Emaar, that rose 3.54% to AED 4.09, spearheaded most actives by a trading value of roughly AED 323.8 million, upon trading over 79.8 million shares. Arabtec grew 1.97%, Union Properties (UP) (2.11%) and Deyaar (3.80%).
Conversely, Gulf Finance House (GFH) was a major disappointment, plunging 9.56% to AED 5.49, as 16.6 thousand shares were exchanged through six transactions.
Wrapping up sectors, all ended on an up note, led by Real Estate & Construction that rose 3.44%. It was followed by Banks that grew 3.29%, then Investment & Financial Services (2.06%) and Insurance (0.45%).
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