DFM capitalisation up by 12.3%

The Dubai Financial Market General Index increased by 12.7 per cent to 1,829.2 points at the end of this quarter compared to 1,622.5 points at the end of Fourth quarter of 2012.

''At the sectoral level, indexes of six out of the nine sectors represented on DFM ended the quarter in the green, with the Telecommunication sector increasing the most by 34.1 per cent, followed by the Services and the Real Estate and Construction sectors by 24.8 per cent, and 19.8 per cent respectively. The Consumer Staples sector index has not changed during this quarter, while the Insurance and Industrial indices decreased by 11.9 per cent and 0.3 per cent respectively,'' a DFM quarterly statistical report said.

The market capitalization, the report indicated, increased at the end of this quarter by 12.3 per cent amounting to Dh204.2 billion compared to Dh181.9 billion at the end of previous quarter.

''The value of shares traded during the quarter reached Dh20.8 billion, compared to Dh8.1 billion recorded during Fourth quarter, up by 156 per cent. The number of shares traded increased by 123.8 per cent to reach 16.4 billion shares during this quarter compared to 7.3 billion shares were traded during Fourth quarter. The number of transactions executed during this quarter up by 112 per cent to reach 216.8 thousands compared to 102.3 thousand deals carried out during the previous quarter.

As for the sectors’ contribution to trading volumes, the Real Estate and Construction sector ranked first in terms of the traded value, to reach Dh9.639 billion, or 46.3 per cent of the total traded value in the market.

The Banking sector ranked Second at Dh4.611 billion or 22.1 per cent, followed by the Financial and Investment Services sector with Dh1.921 billion or 9.2 per cent, the Services sector with Dh1.857 billion or 8.9 per cent, the Transportation sector with Dh1.205 billion or 5.8 per cent, the Telecommunication sector with Dh1.006 billion or 4.8 per cent, and the Insurance sector with Dh575.9 million or 2.8 per cent, whilst other sectors shared the rest of trading volumes.

The value of stocks bought by foreign investors during this quarter reached Dh9.805 billion comprising 47.1 per cent of the total traded value. The value of stocks sold by foreign investors during the same period reached Dh9.308 billion comprising 44.7 per cent of the total value traded. Accordingly, DFM net foreign investment in-flow reached Dh497.1 million.

On the other hand, the value of stocks bought by institutional investors during this quarter reached Dh5.649 billion comprising 27.1 per cent of the total traded value. The value of stocks sold by institutional investors during the same period reached Dh4.957 billion which constitutes 23.8 per cent of the total value traded. Net institutional investment in-flow into DFM amounted to Dh692.4 million.

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