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Abu Dhabi, Dubai bourses trade Dhs27.5bn of shares in Jan-Feb 2020

Abu Dhabi, Dubai bourses trade Dhs27.5bn of shares in Jan-Feb 2020

Of this amount, Dhs14.3bn was traded by foreigners

Foreign and local investors purchased and sold Dhs27.5bn worth of domestic stocks in the country’s two main bourses in Abu Dhabi and Dubai in January-February 2020, reported news agency WAM on Sunday evening.

Of this amount, Dhs14.3bn was traded by foreigners.

According to the Dubai Financial Market, there were Dhs15.8bn in share trades on its exchange, with investments from foreigners hitting around Dhs8.5bn year-to-date, accounting for 53.8 per cent of its total transactions.

Read: Saudis plan big oil output hike following collapse of OPEC+ agreement

Non-Arabs traded equities worth Dhs4.8bn, while Gulf investors traded equities worth Dhs2.12bn and Arabs Dhs1.58bn.

At the Abu Dhabi Securities Exchange, a total of Dhs11.7bn worth of transactions were conducted year-to-date, with foreigners’ trades hitting around Dhs5.8bn, comprising around 49.5 per cent of the total amount.

Non-Arabs invested Dhs4.5bn in the capital’s bourse, with Arabs trading shares worth Dhs345m and Gulf investors Dhs940m.

On Sunday, it was reported that over $200bn was wiped off Gulf markets, its biggest one-day drop in 15 years on the back of OPEC+ members failing to reach an agreement regarding oil cuts over the weekend.

More than $180bn was wiped off from the region’s biggest bourse, Saudi Arabia’s Tadawul, while trading in the Kuwait Premier Market index was suspended for the second time in six days after hitting a daily decline limit of 10 per cent in company share values.

The Dubai Financial market closed 7.9 per cent lower on Monday, while the Abu Dhabi Securities Market index dropped 5.4 per cent.


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