Foreigners buy Dhs1.1 billion shares

15/08/2014 14:54 AST

Dubai Financial Market (DFM) announced that the value of shares bought by foreign investors, or non-UAE nationals, from 10th to14th August, 2014, reached about Dhs1.1 billion, while value of stocks they sold stood at Dhs1.17 billion, with net foreign investment on the market reaching Dhs76 million during the period, as aggregate sell.

Value of shares bought by foreigner investors comprised 44.4 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 47.5 per cent of stocks traded during the period, a DFM press release said.

The value of stocks bought by institutional investors during the week reached Dhs520.5 million, comprising 21.1 per cent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the period reached Dhs544.9 million, representing 22 per cent of the total value of stocks traded during the period.

Net institutional investment on the market stood at Dhs24.4 million during the period, as an aggregate sell.

Gulf stocks

Banks lifted Abu Dhabi’s share index to a near 10-week high on Thursday, while financial stocks were also the main gainers as Egypt’s benchmark rose for a ninth trading day in ten.

National Bank of Abu Dhabi and First Gulf Bank, Abu Dhabi’s two largest lenders by market value, rose 2.1 and 2.8 per cent respectively. DFM climbed 0.2 per cent to 4,813 points.

Meanwhile, Cairo’s main index rose 1.1 per cent to a six-year high of 9,387 points; it is up 89 per cent since July 2013.

WAM