Dubai Financial Market on Tuesday released a report on the bourse’s performance in 2017.
According to the report, the Dubai Financial Market General Index decreased by 4.6% to 3370 points at the end of 2017 compared with 3531 points at the end of 2016.
At the sectorial level, indexes of four out of the nine sectors ended the year in the red, with the consumer staples and discretionary sector decreasing the most by 52.9%, followed by the telecommunication sector by 17.7%, and real estate and construction sector by 6.2%.
In contrast however, the services sector increased by 26.3%, followed by the banking sector by 3.1%, and the insurance sector by 1.9%.
‘Market capitalization increased at the end of 2017 by 16.7% amounting to AED394bn compared with AED337.6bn at the end of previous year. The value of shares traded in 2017 reached AED 115.1bn, compared with AED 133bn recorded in 2016, down by 13.4%.
‘The number of shares traded decreased by 22.1% to reach 82.5bn shares in 2017 compared with 105.8bn shares traded during last year. The number of transactions executed in 2017 was down 16.9% to reach 1.1 million, compared with 1.3 million deals carried out in the previous year,’ the report said.
‘Also, the real estate and construction sector ranked first in terms of the traded value, to reach AED45bn, or 39.4% of the total traded value in the market. The banking sector ranked second at AED33.1bn or 29%, followed by the financial and investment services sector with AED11.7bn or 10.3%, the services sector with AED6bn or 5.2%, the transportation sector with AED4.9bn or 4.3%, the consumer and discretionary staples sector with AED4.5bn or 4%, the telecommunications sector with AED4.49bn or 3.9%, and the Insurance sector with 4.43bn or 3.9%, and finally the Industrial sector with AED 42.9mn.
The value of stocks bought by foreign investors in 2017 reached AED50.2bn comprising 43.5% of the total traded value. The value of stocks sold by foreign investors during the same period reached AED51.4bn comprising 44.5% of the total value traded. Accordingly, DFM net foreign investment out-flow reached AED1.2bn,’ it stated.