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By Sunil Kumar Singh
May 29, 2016 | 10:45 | Dubai
Banking major Emirates NBD continues to be the most valuable company listed on Dubai Financial Market (DFM), with a market value of nearly AED 47.24 billion, amounting to 14.25% of the total market capitalization of DFM. As per the last week’s data of DFM, Emirates NBD added close to AED 18 million in its market valuation last week, followed by another market heavyweight Emaar Properties that emerged as the second most valued company with AED 45.60 market cap, accounting for 13.77% of the total valuation of DFM. Other stocks jockeying for the top of the list included Emaar Malls (AED 35.65 billion valuation, cornering 10.76% of the total market cap) and du (AED 28.47 billion, 8.60%). Dubai Islamic Bank was the fifth most valued company with AED 26.04 billion capitalization, cornering 7.86% of DFM’s total valuation.
Overall, the value of shares bought by foreign investors, or non-UAE nationals on DFM during last week reached AED 796.17 million comprising 42.52% of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached AED 755.31 million comprising 40.34% of the total value of stocks traded during the period. Net foreign investment on the market reached AED 40.86 million during the same period, as aggregate buy, according to DFM data. The value of stocks bought by institutional investors during last week reached AED 573.85 million comprising 30.65% of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the period reached AED 382.72 million which constitutes 20.44% of the total value of stocks traded during the period. Net institutional investment on the market reached AED 191.13 million during the period as aggregate buy.