DFM gains $1.91 billion, records its highest levels since April 2015

Leading banking and real estate stocks support the growth of UAE’s financial markets
DFM gains $1.91 billion, records its highest levels since April 2015
Stocks attracted liquidity worth AED390.8 million in the DFM (Image source: WAM)

The Dubai Financial Market (DFM) consolidated its gains by the end of Thursday’s trading session. Its market capitalization gained approximately AED7 billion ($1.91 billion), supported by gains in leading banking and real estate stocks.

Overall, the market capitalization of stocks listed on Dubai and Abu Dhabi’s financial markets reached AED3.615 trillion by the end of Thursday’s session. Abu Dhabi Securities Exchange (ADX) recorded a capitalization of AED2.896 trillion for the listed shares. Meanwhile, DFM recorded AED718.5 billion for the listed shares.

The shares attracted liquidity worth about AED1.4 billion, distributed as follows: AED1.03 billion in ADX and AED390.8 million in DFM. About 272.5 million shares were traded through about 21,200 transactions. In addition, the DFM General Index (DFMGI) rose by 1.23 percent or about 51.3 points, closing at 4,220.35 points. This marks its highest level since April 2015.

Meanwhile, the Abu Dhabi market index, FADX 15, closed at the end of Thursday’s trading session at 9,289.74 points. While the FTSE ADX General Index, FADGI, closed at 9,469.82 points.

Most prominent activities

Emirates NBD topped the activity on the DFM, attracting liquidity of approximately AED115.8 million. It closed 0.56 percent higher at AED17.8. Following that came Dubai Islamic Bank, attracting AED55.9 million and closing at AED6.39, a 1.1 percent increase. Then, Emaar Properties achieved liquidity worth AED53.4 million and closed at AED7.54, with a growth of 1.48 percent.

As for ADX, International Holding Company led the activity with a liquidity of AED206.1 million, closing at AED399.6. Then came Abu Dhabi Commercial Bank, attracting about AED126.5 million and closing at AED8.88. In third place, Abu Dhabi Islamic Bank attracted liquidity worth AED84.4 million, closing at AED11.22, a 0.18 percent increase.

Investor accounts

Brokerage firms in the DFM added 4,465 new investor accounts during January. According to data from DFM, the number of new accounts recorded a significant growth of 45 percent in January. Hence, they recorded about 3,085 new accounts in January 2023.

BHM Capital accounted for the largest share of new investor accounts in January, with 1,190 accounts. In second place, Al Ramz Corporation registered about 899 accounts. Meanwhile, Emirates NBD Securities recorded 837 accounts, Abu Dhabi Islamic Bank Securities recorded 392 accounts, and International Securities recorded 338 accounts. Finally, Mashreq Securities recorded 197 accounts.

Read: Aramco: Saudi Arabia considering a $10 billion share sale

Most notable transactions

Brokerage firms in the DFM executed more than 310,300 transactions in January for about 6.07 billion shares, with a value of approximately AED15.8 billion.

Hermes – UAE took the lead, executing 60,900 transactions worth AED3.81 billion. Following it came BHM Capital with 31,900 transactions worth AED1.79 billion. Emirates NBD Securities also executed 32,700 transactions worth AED1.69 billion. As for Arqaam Capital, it executed about 44,300 transactions worth AED1.35 billion.

For more news on markets, click here.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.