Foreign purchases hit AED2.282 billion at ADX in May

Foreign investors' buy value of shares in ADX amounted to around AED2.282 billion during May, claiming 60.9 percent of the total value of traded stocks, with foreign sales for the same period valued at AED2.077 billion, accounting for 55.4 percent of total trading, resulting in a net foreign investment value of around AED204 million.

As to institutional investment in May, the net investment value by foreigners stood at AED389 million.

In the meantime, ADX General Index edged down 2.11 percent in May to 4,427 points, with two out of the nine sectors listed spiking high, namely the services sector at a growth of 8.29 percent and the industrial sector at 2.73 percent. The consumer staples sector declined by 8.09 percent, investment and financial services by 6.05 percent, energy by 4.31 percent, banking by 3.10 percent, telecommunications by 1.43 percent, insurance by 0.49 percent and finally the property sector by fell 0.12 percent.

The market value of local companies listed by the end of May declined by 1.61 percent to AED426.864 billion from 433.830 in April. Stocks valued at AED3.745 billion were traded in May against AED3.322 in April.

A total of 23510 transactions were conducted during May over 1.719 billion shares compared to 25319 transactions in the previous month over 1.618 shares.

Daily trading in May is estimated at AED162 million by 57 companies over 23 days against 20 days in the previous month.

First Abu Dhabi Bank was the best performer with trading worth AED775.2 million, claiming 21.4 percent of the month's total trading followed by Etisalat with transactions worth AED534 million, accounting for 14.7 percent of the month's total trading. Then came Aldar with AED450 million transactions, making up to 12.4 percent of total trading, Eshraq Properties at AED449 million and 12.4 percent of total trading, and ADCB with AED405 million and 11.2 percent, with the remaining AED 1.009 billion shared by other companies, claiming 27.9 percent of total trading.

The banking sector got the largest share of trading with a total of AED1.733 billion, claiming 47.85 percent of total trading, followed by the property sector with transactions worth AED951 million at 26.25 percent of total trading, telecommunications sector with AED551 million transactions and 15.21 percent, the energy sector with AED107 million at 2.96 percent , the consumer staples sector with AED91.7 million at 2.53 percent, the industry sector with 85.6 million at 2.36 percent, the services sector with AED47 million at 1.30 percent, the investment and financial services with AED29.7 million at 0.82 percent, the insurance sector with AED26 million at 0.72 percent.

source: WAM