Daily trading hours will remain the same on Dubai Financial Market during the holy month of Ramadan, the bourse said in a statement on its website Thursday. The market will open as normal at 10 A.M. (0600 GMT) and close at 2 P.M. (1000 GMT) during Ramadan, which starts around Aug. 21 this year. Trading times on the Abu Dhabi Securities Exchange (ADX) are also likely to be unchanged, with the UAE regulator setting the trading hours for the two domestic markets, although an ADX spokesman could not immediately confirm this. UAE shares capped a volatile week on a positive note, buoyed by global stocks, while steadier oil prices temporarily set aside worries about the economy. The benchmark index of the Dubai Financial Market rose by 1.4 per cent to 1,813.70, led largely by property and construction related stocks. The index declined in three out of five sessions this week to lose 5.7 percent lower from the previous trading week. The main index of the Abu Dhabi Securities Exchange was up by a marginal 0.4 per cent to 2,798.04, but it was 2.4 percent down from last week. Meanwhile, Dubai Financial Market announced that the value of shares bought by foreign investors, or non-UAE nationals, during last week (Aug. 16 - Aug. 20) reached AED 1.05 billion comprising 45.85 percent of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached AED 1.00 billion comprising 43.65 percent of the total value of stocks traded during the period. Net foreign investment on the market reached AED50.53 million during the same period, as aggregate buy. The value of stocks bought by institutional investors during last week reached AED 504.77 million comprising 22.00 percent of the total value of stocks traded during the period. The value of stocks sold by institutional investors during the period reached AED 553.08 million which constitutes 24.11 percent of the total value of stocks traded during the period.
