DFM thrives with 34,818 new investor registrations, over 2.57 mn deals

Registrations skyrocketed by 51 percent
DFM thrives with 34,818 new investor registrations, over 2.57 mn deals
DFM (Image Credit: WAM)

During the initial eight months of the current fiscal year, brokerage firms operating in the Dubai Financial Market (DFM) experienced a significant increase in the number of new investor registrations, reaching a total of 34,818 New Investor Numbers (NIN).

This upsurge in new investor registrations coincides with increased market activity triggered by the listing of ten government and semi-government entities. Notable additions to the market include Dubai Electricity and Water Authority (DEWA), TECOM Group, Union Coop, Salik, Empower, Taaleem, and Al Ansari Financial Services. These listings have substantially enhanced the market‘s attractiveness and attracted a diverse range of new investors.

According to data sourced from the DFM, the number of newly registered investor accounts showcased remarkable growth, surpassing a growth rate of 51 percent during the initial eight months of the year.

Read more: Dubai’s DFM leads GCC markets with strong weekly rise

The distribution of these newly opened accounts is as follows: 4,295 in August, 3,570 in July, 4,246 in June, 5,349 in May, 4,246 in April, 6,591 in March, 3,436 in February, and 3,082 in January.

During the initial eight months of the year, Emirates NBD Securities, a prominent financial entity, secured the majority of these new investor accounts, amounting to a total of 8,115 accounts.

2.57 million deals

Additionally, a total of 29 brokerage firms listed on DFM engaged during the mentioned period in over 2.57 million deals involving 80 billion shares, with a total value of AED 136.4 billion.

EFG Hermes emerged as the top performer, dominating the majority share of 17.9 percent (AED 24.5 billion) in the brokers’ total trades during the mentioned period. Following closely, BHM Capital Financial Services held 16.4 percent (AED 22.3 billion), Arqaam Securities secured 10.8 percent (AED 14.7 billion), and Emirates NBD accounted for 8.2 percent (AED 11.8 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.