By: Mahmoud Gamal
Abu Dhabi – Mubasher: Foreign investors were mainly buyers in the first three months of 2018 on the Abu Dhabi Securities Exchange (ADX), while Omanis and Saudis were the top buyers in the Gulf region, particularly after the financial disclosure and dividend distribution periods ended.
Foreign non-Arab investors bought AED 3.18 billion ($866 million) in stocks on the ADX in Q1-18, against AED 2.53 billion in sales, resulting in net purchases of AED 648.2 million, data compiled by Mubasher from the bourse indicated.
Overall, foreign non-Arab investors’ buying accounted for 36% of the total value of ADX transactions, which reached AED 8.9 billion ($2.42 billion) during the period.
UK, US investors
UK investors topped foreign non-Arab investors on the ADX in Q1-18, having bought AED 946.1 million in stocks, while their sales reached AED 1.023 billion, resulting in net sales of AED 77.07 million.
US investors came in second with AED 947.95 million purchases and AED 601.46 million sales, resulting net purchases of AED 346.49 million.
Investors from Luxembourg and Singapore came in third and fourth with net buying of AED 341.94 million and net sales of AED 19.66 million, respectively.
Commenting on ADX activities, CEO at Mindcraft Consultants Fadi El-Ghattis said that the ADX was significantly different from the Dubai Financial Market (DFM) in Q1-18, indicating that the Abu Dhabi bourse enjoyed several initial public offerings (IPOs), chief among them was ADNOC Distribution.
Marketing campaigns by several companies succeeded in attracting investors, particularly institutions, which helped boost the ADX in Q1-18, the analyst told Mubasher.
In the first three months of the year, the ADX’s general index surged 4.25% or 186.96 points to close at 4,585.4 points, adding AED 15.2 billion ($4.2 billion) in market capitalisation.
El-Ghattis forecast that the ADX will see further international investments as prices have fallen to low and attractive levels, in addition to the ongoing announcement of positive news, including the recent deal between Aldar Properties and Emaar Properties, which he expects to support Aldar’s projects.
Omani, Saudi investors
Regionally, Arab and Gulf investors registered AED 1.26 billion in purchases in Q1-18, representing around 14.15% of the total value of deals executed on the ADX during the period.
Omani investors topped the region’s buyers with AED 370.19 million purchases versus AED 496.28 million in sales, resulting in net selling of AED 126.08 million.
Saudi investors came in second with AED 199.78 million buying and AED 192.78 million sales, netting AED 7 million purchases.
Bahraini and Jordanian investors came in third and fourth, respectively, with the former netting AED 60.61 million in purchases, and the latter netting AED 43.8 million in sales.
Translated by: Nada Adel Sobhi
