DUBAI, The Dubai Financial Market (DFM) trade count today witnessed an increase of 161 percent on the first day of implementation of the minimum trading commission cancellation. Total number of trade count on today’s trading session reached to 6739 transactions, the highest level of daily trade count since the beginning of this year, compared to 2579 transactions on Tuesday.
Trade count of today’s session has also jumped 146 percent compared to its 2740 average year to date.
Additionally, the DFM General Index gained 13.6 points (0.50 percent) during today’s session taking its 2021 gains to 17 percent.
The DFM decision to waive minimum trading commission is part of its numerous initiatives aimed at promoting retail investors’ participation in the market and enabling them to avail its lucrative investment opportunities that include a diversified range of asset classes and financial products.
The immediate jump in trade count underlines that investors targeted by this initiative recognize its importance in reducing the transaction cost and consequently maximizes the potential returns.
Source: Emirates News Agency