Dubai's DFM sees near-20% growth in 2012

Dubai's stock market grew by nearly 20 percent in 2012 with seven of nine sectors showing positive at the end of the year, it has been announced.

The Dubai Financial Market General Index increased by 19.9 percent to 1622.5 points at the end of the year compared to 1353.4 points at the end of 2011, latest figures show.

Total market capitalisation increased at the end of 2012 by one percent amounting to AED181.9bn compared to AED180.1bn at the end of previous year.

The services sector showed the biggest growth of 144 percent, followed by the industrial and real estate and construction sectors by 44.6 percent, and 42.5 percent respectively.

The figures showed the banking sector was down by 4.5 percent during 2012, while the consumer staples sector index was unchanged.

The value of shares traded during this year reached AED48.6bn, compared to AED32.1bn recorded during 2011, an increase by 51.4 percent.

The number of shares traded rose by 60.8 percent to reach 40.5 billion shares during this year compared to 25.2 billion shares in 2011.

The number of transactions executed during 2012 was up by 39.7 percent.

The figures also showed that the real estate and construction sector ranked first in terms of the traded value, reaching AED23.2bn, or 47.7 percent of the total traded value in the market.

The banking sector ranked second at AED8.9bn, followed by the financial and investment services sector with AED5.1bn.

The value of stocks bought by foreign investors during the year reached AED22.5bn comprising 46.2 percent of the total traded value. The value of stocks sold by foreign investors during the same period reached AED22bn comprising 45.3 percent of the total value traded.