Business | Markets

Channel Sponsor

Value and volume of trading on ADX soars in first half of 2008

The value of securities traded in the first half of 2008 trebled compared to the first half of 2007 announced Tom Healy, Chief Executive of the Abu Dhabi Securities Exchange (ADX).

  • Staff Report
  • Published: 12:16 July 9, 2008
  • Gulf News

Abu Dhabi: The value of securities traded in the first half of 2008 trebled compared to the first half of 2007 announced Tom Healy, Chief Executive of the Abu Dhabi Securities Exchange (ADX).

The value of securities traded on ADX from 1 January to 30 June 2008 was Dh163 billion (US$44 billion), compared to Dh51 billion (US$14 billion) in the same period last year.

Accordingly, the number of shares traded and the number of trades also increased dramatically by 93 per cent and 60 per cent, respectively.

The most actively traded stock was Dana Gas, followed by Arkan, Aabar and RAK Properties.

“There are a number of reasons why ADX has witnessed such a huge increase in the amount of trading this year, the most of important of which is that we are seen as a stable and sustainable market, which gives investors confidence'', said Healy.

Healy added that the Exchange has been actively encouraging foreign investors into the market as well as UAE nationals as “having a broader and more international investor base is important for the long-term sustainability of our market.''

After UAE Nationals, UK investors were the most active in trading on ADX. UK investors now own Dh18.2 billion (US$5 billion) worth of shares, which is an increase of Dh15 billion (US$4.1 billion) in the first six months of 2008.

“In the near future, our priorities will be to develop the debt market, list Exchange Traded Funds (ETFs) on ADX, and develop a derivatives market,'' said Healy.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Markets

  1. Karachi index ends flat in low turnover

  2. UAE stock markets rise

  3. Karachi index ends down in dull trade

  4. Dubai Duty Free sales set to rise 4%

All articles in Markets

More from Business

Gulf News
Popular in Business
Airlines in the region
Budget travel

Airlines in the region

Take a pictorial look at some of the budget airlines in GCC

Business Editor's choice