Monday 05 December 2022 - 4:10:54 pm

20,500 new investor accounts added to Dubai Financial Market in first 7 months of 2022

ABU DHABI, 1st August, 2022 (WAM) -- Brokerage companies in the Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022.

The market also witnessed significant momentum since the announcement of the listing of 10 governmental and semi-governmental companies, including the Dubai Electricity and Water Company (DEWA), the TECOM Group, and Union Coop.

The number of new accounts in the Dubai Financial Market grew significantly by over 287 percent during the first seven months of this year, compared to 5,306 new accounts in the same period in 2021.

According to related data, companies added 2,349 new accounts in July; 2,850 in June; 2,468 in May; 4,258 in April; 4,401 in March; 3,231 in February; and 995 in January.

BHM Capital Financial Services acquired the largest share of new investor accounts during this period, totalling 3,471; followed by Abu Dhabi Islamic Bank Securities with 2,855; then Emirates NBD Securities with 2,731; ADCB Securities with 1,369 accounts; International Securities with 1,192 accounts; and EFG Hermes with 1,081 accounts.

The 27 brokerage firms in the Dubai Financial Market executed over 1.41 million deals during the first seven months of this year, trading 40 billion shares valued at AED98.25 billion.

WAM/Esraa Ismail/Lina ibrahim