DFM records 119% growth

18/07/2009 - Dubai Investment News
DFM records 119% growth

The Dubai Financial Market (DFM) has posted 119 per cent quarter-on-quarter growth for the period between April and June this year.

In its second quarter earnings statement for the three-month period ended June 30th, the group announced net profits of AED128.3 million, up from AED58.5 million in the first quarter of 2009.

The bourse attributed the sharp rise in profits to the dramatic surge in trading volumes witnessed in the second quarter, with total transactions rising 113 per cent.

DFM executive chairman Essa Kazim commented: "The market witnessed good performance during the second quarter of 2009, with significant increase in different market indicators such as trading volumes and values, the performance of listed securities and the DFM general index."

The group also recently announced that during the first week of July, foreign investors bought AED699.3 million worth of shares on the DFM during the period, comprising 44 per cent of the total value of stocks traded during the period.ADNFCR-2019-ID-19271051-ADNFCR