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26,596 new investors flocked to DFM in Q1, 2024

26,596 new investors flocked to DFM in Q1, 2024
1 Apr 2024 14:43

DUBAI (WAM)

Brokerage firms at the Dubai Financial Market (DFM) opened 26,596 new investor accounts during the first quarter of the current year 2024, a growth of 103 per cent compared to 13,112 accounts during the first quarter of 2023, according to data released by the DFM.



This comes amid significant momentum in the market since the announcement of the listing of government and semi-governmental companies, including the recent listing of Parkin, which enhanced the market's attractiveness and drew new investors.



The new accounts were distributed over the months of the year, with a notable YoY spike of 151.5 per cent in March 2023, when 16,574 new accounts were opened.



This coincided with Parkin floating its shares amid exceptional interest from international and regional investment institutions, as well as individual investors in the UAE.



Surging new investor accounts bolster Dubai's Financial Market, injecting potential for greater liquidity and trading activity.



Meanwhile, the first quarter of 2024 saw 30 brokerage firms operating in the Dubai Financial Market execute over 1.014 million transactions involving 22.7 billion shares, with a value exceeding AED50.9 billion.

Source: WAM
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