Dubai Financial Market adds 64,416 new investor accounts in nine months as confidence in UAE economy grows

Dubai: Brokerage firms in the Dubai Financial Market added approximately 64,416 new investor accounts during the first nine months of this year, driven by the diversity of investment options, investor confidence in the growing strength of the emirate’s economy, the attractiveness of local stocks, and the positive financial performance achieved by listed companies, which was reflected in their strong business results, contributing to attracting new segments of investors.

According to a survey, based on data from the Dubai Financial Market, the new accounts were distributed as follows: 6,339 accounts in January, 5,644 accounts in February, 12,837 accounts in March, 7,356 accounts in April, 5,210 accounts in May, 6,874 accounts in June, 11,366 accounts in July, 3,492 accounts in August, and 5,298 accounts last September.

BHM Capital Financial Services acquired the largest share of new accounts during the period, with a total of 20,752 accounts, followed by Emirates NBD Securities with 12,637 accounts, then Al Ramz Capital with 9,147 accounts, Abu Dhabi Islamic Securities with 7,979 accounts, followed by Mashreq Securities with 4,532 accounts.

In a related context, brokerage firms in the Dubai Financial Market executed more than 6.33 million transactions during the first nine months of this year, on 95.62 billion shares, with a total value exceeding Dh324.99 billion.

EFG Hermes UAE accounted for the largest share of brokerage firms’ trading value during the period from January to September, with 23.76%, equivalent to Dh77.22 billion. It was followed by Arqaam Securities with approximately Dh38.95 billion and 11.98%, then Emirates NBD Securities with an 11.33% share, equivalent to Dh36.84 billion, followed by BHM Capital Financial Services with approximately Dh32.83 billion, representing 10.1%, and fifthly, BHM Capital Financial Services/Market Maker with approximately Dh17.84 billion and 5.49%.

On a monthly performance level, brokerage firms in the Dubai Financial Market added 5,298 accounts during last September, and the value of trades reached Dh32.07 billion, through trading on 14.64 billion shares, and executing 689,160 transactions.

EFG Hermes UAE accounted for the largest share of brokerage firms’ trading value during September, with 21.28%, equivalent to Dh6.8 billion. It was followed by Arqaam Securities with a 12.12% share, equivalent to Dh3.88 billion, then BHM Capital Financial Services with approximately Dh3.45 billion, representing 10.79%, followed by Emirates NBD Securities with approximately Dh3.01 billion, representing 9.39%, and fifth, Mashreq Securities with approximately Dh1.84 billion, representing 5.73%.