Dubai Financial Market adds 20,500 new investor accounts in 7 months
The market has also experienced significant momentum since the announcement of the listing of 10 governmental and semi-governmental companies.
Dubai Financial Market brokerage firms added 20,552 new investor accounts in the first seven months of 2022. The market has also seen significant momentum since the announcement of the listing of 10 government and semi- including Dubai Electricity and Water Company (DEWA), TECOM Group and Union Coop.
The number of new accounts in the Dubai Financial Market has increased significantly by more than 287% in the first seven months of this year, compared to 5,306 new accounts in the same period of 2021.
According to related data, businesses added 2,349 new accounts in July; 2,850 in June; 2,468 in May; 4,258 in April; 4,401 in March; 3,231 in February; and 995 in January.
BHM Capital Financial Services acquired the largest share of new investor accounts during this period, totaling 3,471; followed by Abu Dhabi Islamic Bank Securities with 2,855; then Emirates NBD Securities with 2,731; ADCB Securities with 1,369 accounts; International Securities with 1,192 accounts; and EFG Hermes with 1,081 accounts.
Dubai Financial Market‘s 27 brokerage firms executed more than 1.41 million trades in the first seven months of this year, trading 40 billion shares valued at Dhs 98.25 billion.
Dubai Financial Market recently announced its consolidated financial results for the first half of the fiscal year ended June 30, 2022, posting a 63% increase in net profit to Dhs 63.4 million from Dhs 38.8 million. during the corresponding period of 2021.
Net profit for the second quarter of 2022 increased by 134% to reach Dhs 35.9 million compared to the Q2-2021 level of Dhs 15.3 million.
The company’s consolidated total revenue reached Dhs 163.8 million in the first half of 2022, compared to Dhs 136.6 million in the first half of 2021. Revenues included Dhs 121.4 million in operating income and 42.4 million Dhs of investment and other income.
The Company’s expenses amounted to 100.4 million Dhs against 97.8 million Dhs recorded during H1-2021. During the second quarter of 2022, the Company’s revenues reached Dhs 85.2 million compared to Dhs 63.2 million in the second quarter of 2021, while expenses amounted to Dhs 49.3 million compared to Dhs 47.9 million Dhs during Q2-2021.
Commenting on the announcement, Helal Al Marri, Chairman of DFM, said: “DFM has recorded a positive performance thanks to the growing interest of various market participants and deep confidence in its prospects in light of the accelerated stages of implementation of the development of Dubai’s financial markets. strategy. During the first half of the year, the DFM hailed the listing of (DEWA), the largest IPO in the history of the UAE financial markets.
“In addition, our product diversification strategy gained momentum by launching trading in Oman crude oil futures as well as new equity futures. key initiatives to develop the regulatory framework through the introduction of Cooperative and Special Purpose Acquisition Company (SPAC) Listing and Trading Rules, which strengthens DFM’s ability to attract more listings and to diversify investment opportunities.
Al Marri added that the total market value increased by 75% during the first half of 2022 to reach Dhs 49.4 billion against Dhs 28.2 billion during the same period of the year 2021, while the total market capitalization of listed securities increased by 28.2% to reach 527 Dhs. billion compared to the end-2021 level of MAD 411 billion.
The DFM maintained its appeal to international investors, who accounted for 47% of its market value during the first half of the year with net purchases of MAD 2.6 billion and their participation reached 19.8% of the total market capitalization at end of June 2022.
Institutional investors accounted for 53.6% of market value, reflecting local and international investor confidence in the market.
DFM attracted 70,432 new investors in the first half of this year compared to 1,842 investors, up 38 times from its level at the end of the corresponding period last year, bringing the total number of investors to 921,550 investors from 212 countries at the end of June 2021. International investors accounted for 72% of new investors. In addition, the DFM integrated 426 new institutional investors during the first half, including 303 foreign institutions.
The Dubai Financial Market held a roadshow in London last month. The Dubai Financial Market International Investor Roadshow 2022 has successfully attracted many leading global investment institutions. The event sent a strong message about international investors’ deep confidence in the outlook for Dubai’s financial markets as well as their enthusiasm to continue their strong presence in the future.