Dubai Financial Market overall performance declined by 1.0% as at the end of May 2008 compared to the end of April. The market general index stood at 5678.59 points against 5737.72 points. On the other hand, the market capitalization increased at the end of this month by 0.88% to reach AED 511.1billion compared to AED 506.6 billion recorded at the end of the April. The number of listed companies increased by the end if this month to reach 58 companies subsequent to the listing of the Ekttitab Holding Company in the market.
The value of shares traded decreased by19.6%, during this month to reach AED 23.4 billion compared to AED 29.1 billion recorded during the month of April, and the number of transactions executed reduced by 17.1% to 140.7 thousand deal during this month compared to 169.7 thousand deal over the previous month. The number of shares traded rose during May by 0.4% to reach 6.08 billion shares compared with 6.05 billion shares were exchanged last April.
The real estate sector ranking first in terms of the value of shares traded recording around AED 6.7 billion or 28.7% of the total value of shares traded in the market. The transportation sector ranked second with a AED 5.2 billion and ratio of 22.1% , Followed by the banking sector entitled to AED 4.7 billion or 20.2%, and then investment and financial services sector with trading value of AED 4.5 billion and a ratio of 19.0%, then the insurance sector handled AED 1.8 billion or 7.6%, then the communications sector handled AED 266.4 million By 1.1% and utilities sector handled AED 256.7 million, or 1.0%, and finally the materials and consumer staples sectors ranked last with a trading of AED 1.7 million and AED 482 thousand respectively.
The value of shares bought by foreign investors, or non-UAE nationals, during this month reached AED 7.9 billion comprising 34.0 per cent of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached AED 7.5 billion comprising 32.1 per cent of the total value of stocks traded during the period. Net foreign investment on the market reached AED 426.2 million during the same period, as aggregate buy.
The value of stocks bought by institutional investors during this month reached AED 6.9 billion comprising 29.5 per cent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the period reached AED 6.7 billion which constitutes 28.6 per cent of the total value of stocks traded during the period. Net institutional investment on the market reached AED 208.4 million during the period. as aggregate buy.