In the first half of 2009, the foreign investors were net buyers on Abu Dhabi Exchange or ADX, since volumes have risen up as compared to second half of the last year.

The first half of 2009 saw a rise in ADX Index, market capitalization and volumes; the credit of which should go to a positive long-term economic outlook for Abu Dhabi.

Tom Healy ADX Chief Executive specified: "Interestingly, while non-GCC investors only owned four per cent of the value of stocks listed on the bourse, they accounted for around 30 per cent of all trading, buying and selling shares worth nearly Dh16 billion, giving them net purchases of Dh600 million worth of shares."

He added: "The number of institutional investors has also increased by seven per cent. Many institutional investors tend to be from outside the UAE, and increasing their number is an important objective for us in encouraging a diversity of shareholder types."

The highest owners of shares by value were the UAE nationals, with Dh217 billion worth of shares - comprising 92.5 per cent of the total value of shares owned.

According to ADX Chief Executive, the pick up of volumes in the first half of 2009, compared to the second half of 2008 has come as a positive sign.

He said: "We saw a fall in volumes towards the end of last year. Since the beginning of this year however, they have risen 39 per cent to over 20 billion shares from under
15 billion shares. As we would expect, given the lower values of shares, however, the value of trading is down by 48 per cent, with shares worth Dh36 billion changing hands in the first six months of this year compared to Dh70 billion in the latter half of 2008."

It should be noted that a total of 66 companies were enlisted on the Exchange during the first half, with a combined market capitalization of over Dh282 billion, a 12 per cent increase from the end of 2008.