Foreign investors were net sellers on the Dubai Financial Market (DFM) in January.
Net foreign investment on the market reached Dh310.4 million during the same period, as aggregate sell, an official release said yesterday.
During the month, foreign investors bought shares worth Dh3.877 billion, or 42.9 per cent of the total value of stocks traded at DFM. They sold stocks worth Dh4.187.
The value of stocks bought by institutional investors during the month reached Dh1.689bn comprising 18.7 per cent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the same period reached Dh1.854bn which constitutes 20.5 per cent of the total value of stocks traded during the period. Net institutional investment on the market reached Dh165.6m during the period. as aggregate sell.
The DFM's overall performance decreased by 11.8 per cent to reach 1589.97 points the end of January 2010 compared to 1803.58 points at the end of December.
The market capitalisation decreased at the end of this month by 6.7 per cent to reach Dh199bn compared to Dh213.4bn at the end of December. The value of shares traded during this month reached Dh9bn, compared to Dh12.8bn recorded during December, a decrease by 29.4 per cent. Number of shares traded decreased by 40.4 per cent to reach 4.5 billion shares during this month compared to 7.6 billion shares were traded during the December.
The number of transactions executed during January 2010 decreased by 31.5 per cent to reach 103,900 compared to 151,800 deals carried out during the last month. In terms of sectoral contribution to trading volumes, the real estate and construction sector ranked first in terms of the value of traded shares, to reach Dh7bn, or 77.8 per cent of the total value of shares traded in the market.
Investment and financial services ranked second at Dh1bn, or 11.6 per cent, followed by the banking sector to Dh395 million, or 4.4 per cent, and the transportation sector amounted to Dh350m, or 3.9 per cent. The communications sector handled Dh85m, or 0.9 per cent, and insurance sector amounted 66 million, or 0.7 per cent. Utilities sector handled Dh64 million, or 0.7 per cent, and the material sectors ranked last to reach Dh166,000.
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