DFM Sees 85% Surge in New Investor Accounts in 2024 Amid Strong Market Interest

The Dubai Financial Market (DFM) witnessed a significant rise in investor activity, with 56,345 new investor accounts opened in the first seven months of 2024, marking an 85% increase compared to the 22,700 accounts from the same period last year.

This growth is driven by strong investor interest in high-profile listings, including companies like "Parkin" and "Spinneys."

The month-by-month increase in new accounts showed substantial growth, starting with 4,465 in January, 5,557 in February, and a notable surge to 16,574 in March. The trend continued with 9,957 new accounts in April, 8,026 in May, 6,223 in June, and 5,543 in July. Notably, July's numbers represent a 55% increase from July 2023, highlighting sustained investor confidence.

BHM Capital Financial Services led brokerage firms by opening 21,565 new accounts. Emirates NBD Securities followed with 14,130 new accounts, and Al Ramz Capital added 7,115 new investors. Other significant contributors included ADIB Securities with 3,313 accounts, International Securities with 3,071, and Mashreq Securities with 2,631.

In addition to the rise in new accounts, DFM's trading activity was robust, with 30 brokerage firms executing over 2.57 million transactions involving 58.4 billion shares. The total value of these transactions exceeded AED114.5 billion in the first seven months of 2024. This growth reflects the market's attractiveness and the increasing investor participation in Dubai's financial sector.

News Source: Emirates News Agency