Money Still Flowing to UAE

Money Still Flowing to UAE

Money Still Flowing to UAE

Foreign investors’ purchases at Abu Dhabi Securities Exchange, ADX, amounted to AED2.114 billion in June 2017, accounting for %55.4 of total buy trades, with their sales staying at AED1.871 billion, comprising %49.1 of total sell trades, bringing to AED243 million the net foreign investments at ADX during the month. In the meantime, institutional investments for the same period have reached AED151 million.

ADX General Index in June dropped by 0.04 percent to 4425 points, with the energy sector posting the highest growth at 37.12 percent, followed by the real estate sector at 0.85 percent , telecommunications sector at 0.58 percent, and insurance sector at 0.27 percent.

Meanwhile, the services sector dropped by 3.37 percent, followed by the consumer staples sector at 1.76 percent, banking sector by 1.27 percent, investment and financial services sector by1.01 percent, and industry sector by 0.61 percent.

The market capitalization of domestic companies listed on ADX dropped by 0.23 percent to AED425.862 billion from AED426.864 billion in May 2017.

Trading value in ADX reached AED3.809 billion compared with AED3.745 billion in May, while the trading volume stood at 3.120 billion shares compared with 1.719 billion in May, with the number of deals reaching 31418 compared with 23519 in May.

The average daily trading value in June reached AED211 million compared with AED162 million in May. The number of trading days stood at 18 against 23 in January, with 53 companies having traded in ADX in June.

Dana Gas shares were the most active in June with trades equivalent to AED1.111 billion, representing 29.7 percent of total trades, followed by Abu Dhabi Commercial Bank with AED458 million, or 12.2 percent, closely followed by First Abu Dhabi Bank with AED458 million, or 12.2 percent, Aldar Properties at AED433 million, 11.6 percent, Eshraq Properties at AED348.5 million, 9.3 percent, and around AED935 million for the rest of stocks, 25 percent.

The energy sector had the lion’s share of trades with AED1.130 billion, 30.18 percent, of total trades, followed by the banking sector with AED1.090 billion, %29.13, the real-estate sector with AED933 million, 24.92 percent; the telecommunication with AED383 million,%10.25 percent; the services sector at AED57.5 million, 1.54 percent, the consumer staples sector at AED50.4 million, 1.35 percent, the insurance sector at AED45.5 million,1.22 percent, the investment and financial services at AED38.6 million, or 1.03 percent, and finally the industrial sector at AED14.3 million, %0.38.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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