DFM General Index up 2.1% and market capitalization increased 2.4% to AED 596 Billion Image Credit: Gulf News Archive

Dubai: The Dubai Financial Market (DFM) reported a 30 per cent increase in its net profit at Dh35.6 million, compared to Dh27.5 million in the previous year, it said on Friday.

DFM’s total consolidated revenue stood at Dh88.9 million, up 13 per cent compared to the previous year’s Dh78.6 million, it added. Meanwhile, total expenses reached to Dh53.3 million compared to Dh51.1 million during the same period last year.

“DFM’s trading value reached Dh19 billion during the first-quarter of 2023 compared to Dh22.8 billion during the corresponding quarter of 2022,” said Helal Saeed Al Marri, Chairman of DFM. “The DFM General Index advanced 2.1 per cent and the market capitalisation increased 2.4 per cent to Dh596 billion from its level at the end of 2022.”

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During the period, DFM attracted 14,635 new investors, of which 78 per cent were foreign investors, resulting in a total investor base of 1,185,291 representing 215 nationalities.

“Foreign investors maintained their strong presence through a market share of 56 per cent of trading value during the first quarter and net purchases of Dh636 million, while their ownership reached 19 per cent of the market capitalisation at the end of March 2023,” said Al Marri. “Additionally, institutional investors’ share of trading value reached 68 per cent with net purchases of Dh6.5 million.”

“We remain focused on delivering long-term value to all our stakeholders and look forward to the rest of the year with confidence,” he added.