By: Mahmoud Gamal
Dubai – Mubasher: Eight foreign stock increased by 15-70% in January 2017, amid control of speculators on monthly trades and increased appetite of investors for attractive stocks.
Investors’ trades were focused on active and dual-listed stocks, which acquired a large portion of the market’s liquidity, to generate quick profits, financial expert Mohammed Al Shammari told Mubasher.
Positive outlook for Boursa Kuwait pushed investors to direct their investments towards dual-listed Kuwaiti stocks on the Dubai bourse, Al Shammari explained.
International Financial Advisors (IFA) topped gainers after rising 69.4% to AED 0.62.
Sudanese stocks listed on the UAE bourses attracted investments after the US removal of sanctions on Sudan, Al Shammari added.
Al-Salam Sudan Bank came in the second place after adding 55.64% to AED 1.93. Hits Telecom grew 44%, followed by Al Madina for Finance and Investment, and Ekttitab Holding at 38.5% and 39.2% respectively.
GFH Financial Group, which generated AED 4.9 billion, also went up 34%, followed by Al Salam Group Holding and National International Holding (NIH) at 19.7% and 17.8% respectively.
The eight stocks accounted for 33% of the market’s total liquidity worth AED 23.029 million, Al Shammari noted.
Investors are expected to trade on blue chips in February, amid the continuous announcements of annual financials and dividends, Think Financial Services CEO Fady Al-Ghattis said.
Translated by: Julian Nabil
