Dubai Financial Market adds around 108,600 new investor accounts
(MENAFN) The Dubai financial market (DFM) has continued to strengthen its appeal, drawing in diverse investor segments and achieving remarkable growth. Over the past year, the market witnessed the addition of approximately 108,600 new investor accounts, marking an impressive increase of more than 90 percent compared to the previous year. This surge in investor interest coincided with heightened subscription activity and the Dubai Financial Market Index reaching its highest levels in over a decade, positioning DFM as a leader among regional markets in terms of growth during 2024.
Among brokerage firms, PHM Capital Financial Services emerged as the top performer in attracting new investor accounts throughout the year. The firm accounted for 37 percent of the total new accounts, representing 40,100 accounts. Emirates NBD Securities secured the second position, contributing 22.6 percent of the new accounts, equivalent to 24,500 accounts. Meanwhile, Al Ramz Capital claimed third place, adding approximately 16,600 accounts to its portfolio.
The momentum carried into December, as the number of new investor accounts rose to 8,290, reflecting a 36 percent monthly increase. During this period, the market demonstrated robust liquidity, attracting trades valued at AED 28.6 billion, with a trading volume of 12.58 billion shares. This activity underscores the continued confidence of investors in the DFM's growth potential.
PHM Capital Financial Services maintained its leadership in December, adding 3,170 new accounts, solidifying its position as a preferred brokerage. EFG Hermes, on the other hand, led in terms of liquidity during the month, handling trades worth AED 7.5 billion, which accounted for 26 percent of the total trading value. These developments highlight the dynamic nature of the DFM and its ability to deliver opportunities for both investors and brokerage firms.
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