84.8 thousand new accounts for investors in the Dubai Financial Market within 10 months

Brokerage companies in the Dubai Financial Market added 84,823 new investor accounts during the first 10 months of this year, a growth of 85%, compared to 41,952 accounts during the same period in 2023, amid a large investor demand for new listings, which contributed to enhancing Market attractiveness and attracting new segments of investors.

In addition, the number of new accounts registered by brokerage firms in the Dubai Financial Market during October 2024, on an annual basis, increased by 284.53% to 13,874 accounts, compared to 3,608 new accounts in October 2023.

According to Emirates News Agency (WAM) monitoring, based on Dubai Financial Market data, new accounts were distributed during the first 10 months of this year by 4,465 accounts in January, 5,557 accounts in February, 16,574 accounts in March, 9,957 accounts in April, and 8,026 accounts in May, 6,223 accounts in June, 5,543 accounts in July, 7,554 accounts in August, 7,050 accounts in September, and 13,874 accounts last October, in which the number of new accounts recorded an increase on an annual basis by 284.5%, compared to about 3,608 new accounts in October 2023. .

BHM Capital Financial Services Company had the largest share of new investor accounts during the first 10 months of this year, with 31.55 thousand accounts, then “Emirates NBD Securities” with 19.47 thousand accounts, then “Al Ramz Capital” with 12.72 thousand accounts. One thousand accounts, followed by “International Securities” with 6,014 accounts, “Abu Dhabi Islamic Securities” with 5,530 accounts, “Mashreq” Securities with 3,429 accounts, “First Abu Dhabi Securities” with 1,076 accounts, and “EFG Hermes – UAE” with 1,045 accounts. “Abu Dhabi Commercial Securities” 878 accounts, “Arqam” 658 accounts, and “HSBC Middle East” 655 accounts.

In a related context, the 30 brokerage companies in the Dubai Financial Market executed more than 3.914 million transactions during the first 10 months of this year, on 80.8 billion shares, with a value exceeding 161.2 billion dirhams. In the same context, six brokerage companies accounted for approximately 95.3% of the total number of new trading accounts on the Dubai Financial Market in October 2024, equivalent to 13,222 accounts.

Stocks gain 6 billion dirhams in the first November session

Local stock markets added about six billion dirhams, gains, to their market capitalization at the end of yesterday’s session (Friday), the first session of this November, supported by traders’ focus on blue-chip stocks, which prompted most of them to restore activity amid the continuous disclosure of third-quarter business results. 2024. The market value of shares rose from 3.648 trillion dirhams in last Thursday’s session, the end of last October’s trading, to 3.654 trillion dirhams at the end of yesterday’s (Friday) session. At the level of indicators, the general index of the Dubai Financial Market rose by approximately 0.66%, or the equivalent of 30.32 points, rising to the level of 4621.37 points at the end of yesterday’s session, with liquidity recorded amounting to 275.05 million dirhams. The Abu Dhabi Securities Market Index (FADGI) ended daily trading with an increase of 0.22%, reaching the level of 9348.8 points, with liquidity recorded amounting to 2.76 billion dirhams, including a large deal of about 1.84 billion dirhams on Alpha Dhabi shares.

The performance of the Dubai Financial Market strengthened with the rise in “Takaful Emarat” shares by 14.82%.