Foreigners buy $18.8bn Dubai stocks in 2013
Dubai, January 5, 2014
Dubai Financial Market (DFM), one of Arab world's leading bourses, said foreign investors bought stocks worth Dh69 billion ($18.8 billion) in 2013, which was 43.1 per cent of the total traded value.
Announcing the solid annual performance, DFM said the value of shares traded in 2013 surged by 229.1 per cent to hit Dh159.9 billion, compared to Dh48.6 billion the year before. The market capitalization too increased by 42.7 per cent at the end of the year to reach Dh259.6 billion from Dh181.9 billion in 2012, it stated.
The DFM also witnessed a surge in the number of shares traded which increased by 214.3 per cent to reach 127.2 billion during this year compared to 40.5 billion shares in 2102. The number of transactions executed during the year went up by 115.3 per cent to reach 1.3 million compared to 621.4 thousand deals carried out during the previous year, it added.
The top Arab bourse said the value of stocks sold by foreign investors during the year reached Dh67.3 billion comprising 42.1 per cent of the total value traded. Accordingly, the DFM net foreign investment in-flow soared to Dh1.7 billion.
The Dubai Financial Market General Index increased by 107.7 per cent to 3369.8 points at the end of the year compared to 1622.5 points at the end of 2012.
On the other hand, the value of stocks bought by institutional investors during the year reached Dh38.3 billion, comprising 24 per cent of the total traded value.
The value of stocks sold by institutional investors during the same period surged to Dh37.5 billion which constitutes 23.5 per cent of the total value traded. The net institutional investment in-flow into DFM surged to Dh790.2 million, said the DFM in its statement.
At the sectoral level, indexes of seven out of the nine sectors represented on DFM ended the year in the green, with the financial & investment services sector increasing the most by 169.2 per cent, followed by the banking and real estate & construction sectors by 120.6 per cent, and 108.2 per cent respectively.
However, the consumer staples sector index went down by 9.9 per cent along with the insurance sector index which fell by 7.2 per cent, said the DFM in its statement.
As for the sectors’ contribution to trading volumes, the real estate and construction sector ranked first in terms of the traded value, to hit Dh70.9 billion, or 44.3 per cent of the total traded value in the market, the statement added.
According to DFM, the banking sector ranked second at Dh31.6 billion or 19.8 per cent, followed by the financial & investment services sector with Dh27.3 billion or 17.1 per cent.
Then came the transportation sector with Dh12.4 billion or 7.7 per cent, the services sector with Dh8.6 billion or 5.4 per cent, the insurance sector with Dh4.8 billion or 3 per cent and the telecoms sector with Dh4.2 billion or 2.6 per cent, the statement added.-TradeArabia News Service