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Foreigners only net buyers on Dubai bourse last week

By Agencies


Non-Arab investors were the only net buyers on Dubai's bourse in the last week of February, purchasing Dh360.46 million of shares, bourse data showed on Saturday.


Investors from outside the Arab region bought Dh1.22 billion worth of shares and sold Dh862.36m of shares in the trading week ended February 28, Dubai Financial Market (DFM) said in a statement.


Data showed non-Arab investors were the only net buyers in the trading week, during which the index rose 1.1 per cent.


UAE nationals, Arabs and nationals of other Gulf Arab states were all net sellers, the bourse said.


DFM, the only publicly traded Arab bourse, derives its income from trading on the bourse. It beat forecasts with its fourth-quarter net profit as trading income surged during a stock market rally in the three-month period. (Reuters)