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DUBAI / WAM
Dubai Financial Market (DFM) announced that the value of shares bought by foreign investors, or non-UAE nationals, this week reached about AED1.016 billion, while value of stocks they sold stood at AED1 billion, with net foreign investment on the market reaching AED15.4 million during the period, as aggregate buy.
Value of shares bought by foreigner investors comprised 37.3 per cent of the total value of stocks traded during the last five days, while value of stocks sold by foreign investors during the same period represented 36.7 per cent of stocks traded during the period, a DFM press release said on the market activities over the week.
The value of stocks bought by institutional investors during the week reached AED794.3. million, comprising 29.1 per cent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the period reached AED793.3 million, representing 29.1 per cent of the total value of stocks traded during the period.
Net institutional investment on the market stood at about AED1 million during the period, as an aggregate buy.
Meanwhile, Dubai’s market was the best-performing in the Gulf this year because the emirate’s diverse economy relies relatively little on oil. The index rose 12 percent during the year, and edged up 0.3 percent on Thursday. Abu Dhabi gained 6 percent during 2016 and climbed 1.7 percent on Thursday because of a 2.5 percent jump in telecommunications firm Etisalat, which saw its highest trading volume since June.