Foreign buyers splurge on local markets

The Dubai Financial Market announced that the value of shares bought by foreign investors, or non-UAE nationals, last week was Dh2.947 billion.

The transactions, which were traded between June 7 and June 11, were 36.5 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 Dh2.84 billion - 35.2 per cent of the total value of stocks traded during the period. The markets net foreign investment was Dh102.6 million, as aggregate buy.

The value of stocks bought by institutional investors last week topped Dh1.68 billion, or 20.9 per cent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the period was Dh1.626 billion - which constitutes 20.1 per cent of the total value of stocks traded during the period.

Net institutional investment on the market reached Dh62.7 million during the period, as aggregate buy.

Meanwhile, the Abu Dhabi index added one per cent to close at 2,867.6 and the EFG-Hermes Abu Dhabi Index added one per cent to close at 5,316.6.

Trading activity jumped 36 per cent to 414.4 million shares worth Dh610.1 million. Local and Arab investors sold as foreign investors snapped up the shares.

Dohas DSM20 index inched down 0.2 per cent to close Thursdays trading at 7,299.5.