Profits of Dubai market companies increased 17% to AED 27.5 million in the first quarter

Dubai Financial Market Company’s net profit grew 17% in the first quarter of questyear at 27.5 million dirhams.

On the revenue side, it grew 7% to AED78.6 million, less than Goldman Sachs’ expectations of AED101 million.

The first quarter saw a 48% increase in trade value to AED 22.8 billion.

Interestingly, the share of trading of foreigners approached 46%, while their ownership accounted for 23% of the market value.

Institutional investors accounted for 51.6% of the total trade value.

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Hussam Al-Hussaini, member of the American Society of Technical Analysts, said the Emaar stock was one of the best performing stocks performance in the Dubai financial market since the beginning of questyear, as it contributed, thanks to its large relative weight, to a positive impact on the market index.

Al-Husseini stated in an interview with Al-Arabiya that the shares of the Dubai Financial Market Company are set to further improve revenues and profitability in the coming months in light of the anticipated initial offers which will help to increase the liquidity round in the market, and therefore increase the profits of the Dubai Market Company.

He added that the company’s stock movement may have been proactive and has some exaggeration, as it has seen increases record in recent months against the background of news related to quotes.

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