DFM market cap drops Dh6bn

Real estate and construction sector ranked first in terms of the value of traded shares (FILE)

Dubai Financial Market (DFM) fell 5.9 per cent to 1,534.4 points the end of January 2011 compared to 1,630.5 points at the end of December 2010.

The market capitalisation decreased at the end of this month by 3.1 per cent to reach Dh193 billion compared to Dh199.1 billion at the end of December, the bourse said in a press statement on Wednesday. 

The value of shares traded during this month reached Dh3 billion compared to Dh2.95 billion recorded during December, increased by 1.6 per cent. Number of shares traded increased by 7.9 per cent to reach 1.9 billion shares during this month compared to 1.8 billion shares were traded during the December.

Number of transactions executed during January 2011 increased by 1 per cent to reach 38.9 thousand compared to 38.5 thousand deals carried out during the last month.

In terms of sectors contribution to trading volumes, the real estate and construction sector ranked first in terms of the value of traded shares, to reach Dh1.856 billion, or 61.7 per cent of the total value of shares traded in the market.

Transportation sector ranked second at Dh353.3 million, or 11.8 per cent, followed by the Communications sector to Dh332.5 million, or 11.1 per cent, and the investment and financial services sector amounted to Dh222.6 million, or 7.4 per cent.

The banking sector handled Dh153.1 million, or 5.1 per cent, and Insurance sector amounted 60.7 million, or 2 per cent. Utilities sector handled Dh23.3 million, or 0.8 per cent, and the Consumer staples sector and the materials sector ranked last to reach Dh3.2 million and Dh27.2 thousand respectively.

The value of shares bought by foreign investors during this month reached Dh1.391billion comprising 46.3 per cent of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached Dh1.375 billion comprising 45.7 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached Dh16.4 million during the same period, as aggregate buy.

The value of stocks bought by institutional investors during this month reached Dh813.4 million comprising 27.1 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 Dh860.1 million which constitutes 28.6 per cent of the total value of stocks traded during the period. Net institutional investment on the market reached Dh46.6 million during the period. as aggregate sell.

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