Post by : Dr. Amrinder Singh
Photo : Virendra Saklani/Gulf News
According to data released by the Dubai Financial Market (DFM), brokerage firms in the region have seen a significant uptick in new investor accounts during the first quarter of 2024. The number of new accounts opened reached 26,596, marking a notable increase of 103% compared to the same period in 2023, which recorded 13,112 accounts.
This surge in new investor accounts comes amidst the announcement of listings of governmental and semi-governmental companies, contributing to the market's appeal and attracting fresh capital. Particularly, the recent listing of Parkin has garnered attention and stimulated interest among new investors.
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The rise in new accounts was consistent throughout the quarter, with March 2024 witnessing a remarkable year-on-year spike of 151.5%, with 16,574 new accounts opened during that month alone.
Individual investors in the UAE, as well as regional and international investment institutions, have shown significant interest in Parkin's shares following its listing.
The influx of new investor accounts is expected to enhance liquidity and stimulate trading activity in Dubai's financial market. During the first quarter of 2024, transactions totaling AED 50.9 billion were executed, involving 22.7 billion shares, across 30 brokerage firms operating in the Dubai Financial Market.
This surge in activity reflects growing confidence and interest in the market, signaling positive momentum for Dubai's financial landscape.
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