Dubai: Dubai Financial Market Company on Wednesday reported a nine-month net profit of Dh 38.1 million compared to Dh120.1 million in the same period of 2020.
The company’s total revenue reached to Dh183.1 million during the nine months of this year compared to Dh271 million during the corresponding period of the previous year. The revenue is comprised of Dh117.9 million of operating income and Dh65.2 million of investment returns and other income. The company’s expenses decreased 4 per cent to Dh145 million by the end of September 2021 compared to Dh 150.9 million in the same period of 2020.
“The market capitalization of DFM-listed securities has increased 15 per cent to Dh392.2 billion and the General Index advanced by 14.2 per cent in spite of the 23.7 per cent decline in trading value to Dh38.7 billion compared to its level during the corresponding period of 2020. Moreover, foreign investors maintained their strong presence with 47.5 per cent market share of trading value,” said Essa Kazim, Chairman of the Dubai Financial Market Company.
Foreign investors were net buyers of Dh1.3 billion and their ownership of the market capitalization reached to 18.5 per cent at the end of September 2021. Similarly, institutional investors accounted for 44 per cent of trading activity with a net purchase of Dh429 million. This clearly indicates UAE’s and international investors’ deep confidence in DFM’s prospects and diversified opportunities.
Ease of investing
The DFM has waived the minimum trading commission from September 1st as part of its numerous initiatives aimed at stimulating and streamlining trading and investment activities as well as promoting retail investors’ participation in the market and enabling them to avail its lucrative investment opportunities.
During September also, the DFM decided to extend its trading hours from four hours to five hours daily, which came into effect on 3rd of October 2021, in an endeavor to further strengthen its leading position as a main gateway for investment and to attract wider and more diversified categories of investors, especially the international investors who are constantly showing great interest in the market.