Brokerage firms in the Dubai Financial Market (DFM) have witnessed a substantial influx of New Investor Number (NIN), totalling 34,818 during the first eight months of the current fiscal year, reported Wam.

 

This surge comes amidst heightened market activity following the listing of ten government and semi-government entities, including the Dubai Electricity and Water Authority (Dewa), Tecom Group, Union Coop, Salik, Empower, Taaleem and Al Ansari Financial Services, which significantly bolstered the market's appeal and attracted new types of investors, it stated.

 

Based on data provided by the DFM, the number of newly registered investor accounts grew over 51% during the first eight months of the year. This compares to the 23,039 new accounts recorded during the corresponding period in 2022.

 

These newly opened accounts were distributed as follows: 4,295 in August, 3,570 in July, 4,246 in June, 5,349 in May, 4,246 in April, 6,591 in March, 3,436 in February, and 3,082 in January, said the Wam report.

 

The financial entity, Emirates NBD Securities, claimed the lion's share of these new investor accounts during the first eight months of the year, totalling 8,115 accounts, he added.