Property, construction shares shine as DFM rises 4.8% in Aug

The Dubai Financial Market General Index rose 4.8 per cent to 5,062.9 points at the end of August compared to 4,833.2 points at the end of July.

The real estate and construction index was up 10.7 per cent for the month, and the Industrial index was up 9.9 per cent. The financial and investment services index was up 4.8 per cent.

In contrast, the transportation was index down 2.9 per cent, Services index was down 1.1 per cent and banking index declined by 0.5 per cent.

Market capitalisation of firms listed on the Dubai index increased at the end August by 3 per cent to reach Dh357.3 billion compared to Dh346.7bn at the end of July.

The value of shares traded reached during this month Dh17.3bn, compared to Dh35.7bn recorded during July, down 51.5 per cent.

The number of shares traded decreased by 57.7 per cent to reach 7.1bn shares during August compared to 16.7bn billion shares traded during July. The number of transactions executed during August decreased by 51.9 per cent to reach 121.6 thousands compared to 252.6 thousand deals carried out during the previous month.

As for the sectors’ contribution to trading volumes, the real estate and construction sector ranked first in terms of the traded value, to reach Dh12.3bn, or 71.2 per cent of the total traded value in the market.

Banking sector ranked second at Dh2.7bn or 15.8 per cent, followed by the financial and investment services sector with Dh1.7bn or 9.7 per cent, transportation sector with Dh326.1m or 1.9 per cent, insurance sector with Dh119.5m or 0.7 per cent, telecommunication sector with D89m or 0.5 per cent, and services sector with Dh45m or 0.3 per cent.

The value of stocks bought by foreign investors during this month reached Dh7.393bn comprising 42.7 per cent of the total traded value. The value of stocks sold by foreign investors during the same period reached Dh7.352bn comprising 42.4 per cent of the total value traded. Accordingly, DFM net foreign investment inflow reached Dh41.1m.

Source: DFM

On the other hand, the value of stocks bought by institutional investors during this month reached Dh3.866b comprising 22.3 per cent of the total traded value. The value of stocks sold by institutional investors during the same period reached Dh3.842bn, which constitutes 22.2 per cent of the total value traded. DFM net institutional investment inflow amounted to Dh23.4m.

Source: DFM

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