«Foreigners net purchases» in the shares of Emirates NBD, during two trading sessions Monday and Tuesday on the Dubai Financial Market, 31 million and 835 thousand and 638 shares, valued at 426 million and 915 thousand and 301 dirhams, after the bank yesterday 5% to 20%.

"There are two indicators indicating the attractiveness of the stock to foreign investors," said two financial analysts, pointing out that the market's performance during yesterday's trading session prevented foreign investors from investing in the bank's shares as expected.

Total purchases

Foreigners increased their investment in the bank during the two trading sessions by about 0.57% of the total shares of the bank to reach 5.57%, of which 0.34% during yesterday's session and 0.23%, during yesterday's session.

According to data obtained by «Emirates Today», from the Dubai Financial Market, the total purchase of foreign shares of 35 million and 631 thousand and 900 shares, while sales totaled about three million and 796 thousand and 262 shares. The total value of their purchases amounted to 478 million and 983 thousand and 339 dirhams, compared to sales of 52 million and 68 thousand and 38 thousand dirhams.

Attractive arrow

Waddah Al Taha, a member of the National Advisory Board of the British Institute of Investments and Securities in the UAE, said: “There are two good indicators that indicate the attractiveness of the stock to foreign investors. The second indicator is the percentage of trading on the share of total trading, which reached during yesterday's session to 50% ».

Al Taha added that the bank's good fundamentals have not attracted the attention of local institutions over the past period, despite good indications.

He stressed that banks are the heart of economic activity, and an important part of the economic security of the state, and it is important not to exceed the percentage of foreign ownership in this sector to 40%.

Limited rate

Wael Abu Muheisen, General Manager of Global Shares and Bonds, said the market's performance during yesterday's trading session prevented foreign investors from investing in the bank's shares as expected.

He explained that the current percentage of foreigners in the shares of the bank is still limited, expecting to continue to rise during the current period, up to the maximum of 20%.

5.57%

Foreign investment ratio

At Emirates Bank

NBD currently.