Dubai – Mubasher: The Dubai Financial Market General Index (DFMGI) rose 5.2% to 3864.7 points at the end of February compared to 3674.4 points at the end of January, the DFM announced.
The financial and investment services index dropped 10.1%, while the real estate and construction index surged 7.7%. The insurance index added 4.6%. In contrast, the industrial index plunged 16.9%, and the transportation index lost 0.4%
Market capitalisation increased 6.4% at the end February to AED 349.3 billion against AED 328.3 billion by the end of the previous month. The value of shares traded reached AED 13.3 billion against AED 15.3 billion recorded during January, down by 12.6%.
The number of shares traded retreated by 7.7% to reach 8.2 billion shares during this month compared to 8.9 billion shares traded during January. The number of transactions executed during February was also down by 17.8% to around 130,900 compared to around 159,200 deals carried out the month before.
As for the sectors’ contribution to trading volumes, the real estate and construction sector ranked first in terms of traded value, reaching AED 8.2 billion, or 61.6% of the total traded value on the DFM in February. The banking sector ranked second at AED 2.2 billion or 16.3%, followed by the financial and investment services sector with AED 1.7 billion or 12.4%.
The transportation, consumer staples, services, telecoms and industrial sectors followed with 4.4%, 2.8%, 1.0%, 0.7%, 0.6% and 0.3%, respectively.
The value of stocks bought by foreign investors during the month reached AED 6.7 billion, making up 50.3% of the total traded value, whereas the total value of stocks sold by foreign investors during the same period reached AED 6.6 billion, comprising 49.7% of the total value traded. Accordingly, DFM net foreign investment in-flow reached AED 69.6 million.
On the other hand, the value of stocks bought by institutional investors during February reached AED 4 billion representing 30.1% of the total traded value. Stocks sold by institutional investors during the month reached AED 3.8 billion, constituting 28.5% of the total value traded.
