AED27.5 bn of share trades in Abu Dhabi, Dubai year to date

Photo: WAM

Foreign and local investors purchased and sold to the tune of AED 27.5 bn worth of domestic listed stocks over the first two months of 2020, AED14.3 bn of which were traded by foreigners, according to data released by the country's two main bourses in Abu Dhabi and Dubai.

The upbeat sentiments exhibited over the early months of the year followed the positive financial statements disclosed by the listed companies and the lucrative dividends they announced and which in turn spurred investment in growth stocks.

According to the statistics released by the Dubai Financial Market, January and February saw AED15.8 bn in share trades, with foreigners' investments hitting around AED8.5 bn year-to-date, accounting for 53.8 percent of total transactions, with non-Arabs buying and selling equities worth AED4.8 bn, while Gulf investors' trades hit AED2.12 bn and Arabs AED1.58 bn.

At ADX, a total of AED11.7 bn worth of transactions were conducted year-to-date, with foreigners' trades hitting around AED5.8 bn, comprising around 49.5 percent of the total.

Non Arabs invested AED4.5 bn in the capital's bourse, with Arabs buying and selling shares worth AED345 million and Gulf investors AED940 million.

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