Dubai, UAE – Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN), totaling 34,818 during the first eight months of the current fiscal year.
This surge comes amidst heightened market activity following the listing of ten government and semi-government entities, including the Dubai Electricity and Water Authority (DEWA), TECOM Group, Union Coop, Salik, Empower, Taaleem, and Al Ansari Financial Services, which significantly bolstered the market’s appeal and attracted new types of investors.
Based on data provided by the DFM, the number of newly registered investor accounts saw an impressive growth rate, exceeding 51 percent during the first eight months of the year. This compares to the 23,039 new accounts recorded during the corresponding period in 2022.
These newly opened accounts were distributed as follows: 4,295 in August, 3,570 in July, 4,246 in June, 5,349 in May, 4,246 in April, 6,591 in March, 3,436 in February, and 3,082 in January.
The financial entity, Emirates NBD Securities, claimed the lion’s share of these new investor accounts during the first eight months of the year, totaling 8,115 accounts.
Deals
In the first eight months of the year, 29 brokerage firms listed on Dubai Financial Market (DFM) conducted over 2.57 million deals on 80 billion shares worth $37.1 billion (AED 136.4 billion).
EFG Hermes emerged as the best performer, dominating the lion’s share of 17.9 percent ($6.7 billion) of the brokers’ total trades in the said period, followed by BHM Capital Financial Services with 16.4 percent ($5.9 billion), Arqaam Securities with 10.8 percent ($4.2 billion), and then Emirates NBD with 8.2 percent ($3.4 billion).
