Stock Market leader in Gulf, Dubai Financial Market has declared better-than-expected results on back of higher trading activity. Compared to previous year first quarter, the revenue was higher by 42 per cent.
DFM registered revenue of 69.1 million dirhams compared to 48.7 million dirhams during Q1 2011. Abdul Jalil Yousuf Darwish, chairman of DFM expressed his views on the positive investor sentiment leading to better volumes on the exchange.
With higher retail investor participation, the trading volume has been strong compared to similar quarter previous year. With better investor sentiment, the trading volumes jumped, resulting in better results for DFM.
On Monday, the stock price of DFM registered a gain of 1.9% at 1.09 dirhams. In year 2012, the stock has witnessed an increase of 27%.