Dubai Financial Market Announces Eid Al Fitr Trading Suspension: What Investors Need to Know
In this article, we delve into the recent press release by Dubai Financial Market (DFM) regarding its trading suspension during the Eid Al Fitr holiday and discuss the potential implications for investors.
Summary
Dubai Financial Market (DFM) has announced a trading suspension from April 8, 2024, until the 3rd of Shawwal 1445 in observance of Eid Al Fitr. Trading will resume on April 12, 2024, or April 15, 2024, depending on the date of Eid Al Fitr. Despite the temporary closure, the future outlook for DFM remains optimistic.
Dubai Financial Market (DFM), a leading financial institution in the United Arab Emirates, recently announced its trading suspension in observance of the upcoming Eid Al Fitr holiday. This temporary halt in operations is set to take place from April 8, 2024, until the 3rd of Shawwal 1445. Normal trading activities are expected to resume on April 12, 2024, if Eid Al Fitr falls on April 9, 2024. However, if the holiday falls on April 10, 2024, operations will recommence on April 15, 2024.
Investors should note the suspension dates and adjust their trading plans accordingly. For settlement dates affected by the holiday, investors are advised to refer to the Dubai Clear circular DClear/2024/5 Settlement for Eid Al Fitr Holiday 1445/2024.
Despite this temporary closure, the future of DFM looks promising. With a market capitalization of 10.8 billion and a yield of 0.05% over three months and 0.1% over one month, DFM continues to demonstrate steady growth. Its robust financial performance, coupled with the strong backing of the Government of Dubai, instills confidence in its potential for future success.
DFM's commitment to adhering to Islamic Shari’a in all its operations and investments further strengthens its position in the market. This adherence not only aligns with the cultural and religious beliefs of its primary investor base but also sets a high standard for ethical and responsible trading.
Given these factors, we recommend investors to hold their current positions in DFM. The temporary trading suspension provides an opportune moment for investors to assess their portfolios and strategize for the future. With DFM's strong financial health and promising future, it remains a valuable addition to any investment portfolio.
Source
Summary
The Dubai Financial Market (DFM) will be closed for Eid Al Fitr from April 8, 2024, until the 3rd of Shawwal 1445. Trading and normal working hours will resume on April 12, 2024, if Eid Al Fitr falls on April 9, 2024. If Eid Al Fitr falls on April 10, 2024, the market will resume operations on April 15, 2024. For settlement dates due to the holiday, refer to the Dubai Clear circular DClear/2024/5 Settlement for Eid Al Fitr Holiday 1445/2024.
