Foreigners sell Dh2.25bn stocks

Foreign investors, or non-UAE nationals, remained net sellers on the Dubai Financial Market (DFM) as they sold stocks worth Dh2.25 billion during the week ended on August 14, comprising 51.51 per cent of the total value of stocks traded during the period.

Net foreign investment on the market reached Dh548.54 million during the week as they bought shares worth Dh1.97bn, comprising 40.32 per cent of the total value of stocks traded during the week.

Institutional investors were also net sellers on the market. The value of stocks bought by institutional investors reached Dh1.78bn comprising 36.36 per cent of the total value of stocks traded during the week against their total sales of Dh2.42bn, constituting 49.39 per cent of the total value of stocks traded.

Net institutional investment on the market reached Dh638.75m during the period as aggregate buy, said a press statement.

The Dubai Financial Market General Index declined 4.4 per cent in the week to 5,017.56.

Non-Arab investors led a sell-off on the Dubai bourse last week, when the index fell to a near 10-month trough.