Foreigners buy $4.5bn Dubai stocks in June
Dubai, July 2, 2014
Dubai Financial Market (DFM), one of Arab world's leading bourses, said foreign investors bought stocks worth Dh17.2 billion ($4.59 billion) comprising 48.3 per cent of the total traded value during June.
DFM said the market capitalization decreased at the end of this month by 19.8 per cent to reach Dh292.7 billion compared to Dh364.9 billion at the end of May.
The value of shares traded reached during this month Dh35.6 billion, compared to Dh46.5 billion recorded during May, down 23.4 per cent, stated the DFM statistics.
The new data revealed a constant interest from foreign investors, whether retail or institutions, during June despite the volatility of market activity, which reflects their confidence and the diversification and attractiveness of DFM opportunities.
The Dubai bourse said the market activity during the month indicates that investment decisions of foreign investors are derived from the sound fundamentals of the national economy as well as the strong and sustainable performance of DFM-listed companies and that these decisions are based on analyzing the economic fundamentals rather than any rumors or regional developments.
The value of stocks sold by foreign investors during the same period reached Dh15.1 billion comprising 42.4 per cent of the total value traded. Accordingly, DFM net foreign investment in-flow reached Dh2.1 billion.
Arabs, others and GCC nationals were net buyers on DFM during June, while UAE national were net sellers of Dh2.1 billion. Net buying hit Dh1.2 billion for Arabs, Dh780.5 million for others and Dh138 million for GCC nationals.-TradeArabia News Service