By: Bedour El-Raie

Abu Dhabi – Mubasher: Foreign investor trading on the Abu Dhabi Securities Exchange (ADX) resulted in overall net buying worth AED 2.56 billion ($697 million) during the first seven months of 2015, statistics by Mubasher.info revealed. Foreigners bought stocks worth AED 9.75 billion ($2.653 billion) against sales of AED 7.2 billion ($1.959 billion) during the period.

Waddah Al-Taha, chief investment officer (CIO) at Zarooni Group, told Mubasher that markets are in need of calm period following the recent sharp declines. He called on banks, brokerage firms and other lenders to halt the over-lending of investors who want to margin trade.

Institutions focused on buying, netting AED 1.24 billion after total buying reached AED 16.21 billion, while total selling amounted to AED 14.97 billion. On the other hand, local investments were directed towards selling of AED 21.4 billion against buying worth AED 18.76 billion.

Meanwhile, Arab investments registered AED 4.15 billion worth of purchases, whereas selling stood at AED 4.25 billion, rendering overall net selling of AED 101 million.

Gulf investors bought stocks worth AED 2.11 billion on the ADX during the seven-month period and sold more than AED 1.9 billion, netting AED 178.30 million in purchases.

Fady El-Ghattis, CEO of Think Financial Studies, told Mubasher that foreign non-Arab investors benefitted the most from the recent declines, especially in the absence of local investor confidence.

Meanwhile, Moussa Haddad, investment fund manager at the National Bank of Abu Dhabi (NBAD), noted that market declines at present represent suitable investment opportunities for top portfolio and fund investors, as well as a chance to rebuild financial positions at new and low price levels.

Long-term investors should not be concerned or fearful as opposed to speculators, he added.

Translated by: Nada Adel Sobhi