Tuesday , June 19 2018

Foreign investors’ purchases on ADX hit AED2.1bn in June

Investors monitor screens displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. The spectacular rise and fall of Arabtec, Dubai's most heavily traded stock, teaches hard lessons about how risky the region remains for investors even as its rapid economic growth lures billions of dollars in fresh funds from abroad. Wild trading by local retail investors who dominate activity, plus weak corporate disclosure and a hands-off approach by regulators, can make a toxic mix, and on occasion destabilise entire markets.  REUTERS/Stringer(UNITED ARAB EMIRATES - Tags: BUSINESS) - RTR3VP3N


Foreign investors’ purchases at Abu Dhabi Securities Exchange (ADX) amounted to AED2.114 billion in June 2017, accounting for 55.4% of total buy trades, with their sales staying at AED1.871 billion, comprising 49.1% of total sell trades, bringing to AED243 million the net foreign investments at ADX during the month. In the meantime, institutional investments for the same period have reached AED151 million.
ADX General Index in June dropped by 0.04 percent to 4425 points, with the energy sector posting the highest growth at 37.12 percent, followed by the real estate sector at 0.85 percent, telecommunications sector at 0.58 percent, and insurance sector at 0.27 percent.
Meanwhile, the services sector dropped by 3.37 percent, followed by the consumer staples sector at 1.76 percent, banking sector by 1.27 percent, investment and financial services sector by1.01 percent, and industry sector by 0.61 percent.
The market capitalization
of domestic companies listed on ADX dropped by as much as
0.23 percent to AED425.862
billion from AED426.864 billion in May 2017.
Trading value in ADX reached AED3.809 billion compared with AED3.745 billion in May, while the trading volume stood at 3.120 billion shares compared with 1.719 billion in May, with the number of deals reaching 31418 compared with 23519 in May.
The average daily trading value in June reached AED211 million compared with AED162 million in May. The number
of trading days stood at 18 against 23 in January, with 53 companies having traded in ADX in June.
Dana Gas shares were the most active in June with trades equivalent to AED1.111 billion, representing 29.7 percent of total trades, followed by Abu Dhabi Commercial Bank with AED458 million, or 12.2 percent, closely followed by First Abu Dhabi Bank with AED458 million, or 12.2 percent, Aldar Properties at AED433 million, 11.6 percent, Eshraq Properties at AED348.5 million, 9.3 percent, and around AED935 million for the rest of stocks, 25 percent.
The energy sector had the lion’s share of trades with AED1.130 billion, 30.18 percent, of total trades, followed by the banking sector with AED1.090 billion, 29.13%, the real-estate sector with AED933 million, 24.92 percent; the telecommunication with AED383 million, 10.25 percent; the services sector at AED57.5 million, 1.54 percent, the consumer staples sector at AED50.4 million, 1.35 percent, the insurance sector at AED45.5 million,1.22 percent, the investment and financial services at AED38.6 million, or 1.03 percent, and finally the industrial sector at AED14.3 million, 0.38 percent.

Abu Dhabi National Takaful’s Abdeen among top CEOs
Abu Dhabi/ Emirates Business

Osama Abdel-Raouf Abdeen, CEO of Abu Dhabi National Takaful Co. PSC (ADNTC), the leading Takaful operator in the GCC has been named among the GCC’s 100 Best CEOs at the Top CEO Awards for 2017 organized by Mediaquest.
The elite roster of top-performing CEOs in the Gulf is compiled annually by Mediaquest’s TRENDS magazine, the leading magazine on Arab affairs in the MENA region, in association with world-renowned business school INSEAD. The criteria for the selection process were set by independent financial and governance experts and were based on financial factors including profits, revenues, assets, company size, earnings per share, corporate governance and transparency, market capitalization, and market values. Following comprehensive analyses of listed companies in the GCC stock exchange, 100 honorees were chosen from which 17 are from the insurance field, with six of them representing UAE-based companies.
Abdeen has been honored for his exceptional role in driving ADNTC’s sustained profitable growth and helping uplift its regional position as a leading Takaful operator and the only one worldwide with an A- (excellent) financial strength rating from AM Best. He joined ADNTC in 2010, bringing with him more than 24 years of experience in multicultural work environments across multiple jurisdictions.

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