Foreigners buy Dhs2.4b of shares

15/11/2014 06:48 AST

The Dubai Financial Market ( DFM ) has announced that the value of shares bought by foreign investors, or non-UAE nationals, from Nov.9 to 13, reached Dhs2.4 billion, while value of stocks they sold stood at Dhs2.3 billion, with net foreign investment on the market reaching Dhs137.5 million during the period, as aggregate buy.

Value of shares bought by foreigner investors comprised 49.3 per cent of the total value of stocks traded during the period, while value of stocks sold by foreign investors during the same period represented 46.4 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 Dhs1.5 billion, comprising 31.1 per cent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the period reached Dhs1.4 billion, representing 28 per cent of the total value of stocks traded during the period.

Net institutional investment on the market reached Dhs148.4 million during the period, as an aggregate buy.

Meanwhile, Stock markets in the Middle East were mixed on Thursday as the UAE bourses rose while disappointing third-quarter earnings weighed on Egypt and Saudi Arabia saw a broad sell-off after oil prices hit four-year lows.

Dubai’s index edged down early in the session but then bounced back and closed 1.7 per cent up as heavyweight Emaar Properties jumped 4.8 per cent to Dhs11.00, a one-month high. The stock still trades below levels seen in September and early October, before a slump in the Dubai bourse that was triggered by global markets.

Most stocks in Dubai also rose on Thursday and Air Arabia, whose third-quarter earnings beat estimates this week, jumped 4.2 per cent.

WAM