By: Mahmoud Gamal
Dubai-Mubasher: The stock performance of Dubai-based Arabtec Holding and Abu Dhabi-listed Eshraq Properties will shape the trend of the UAE bourses, analysts told Mubasher on Wednesday.
Arabtec topped gainers after adding 14.5% on Tuesday, with turnover of AED 782.1 million generated from trading 494.36 million shares through 4,548 transactions.
Abu Dhabi market was boosted by the real estate sector after adding 0.25%, spurred by Eshraq Properties which advanced 1.30%.
The markets are expected to see mild profit-taking by portfolio investors, according to UAE markets analyst Hareb Amr.
The DFMGI must face profit-taking pressures that will lead it down to 3,061 points before rebounding to 3,500 points, Arab markets analyst Hashim Al-Fahmawi said earlier.
Al-Fahmawi expected Dubai’s equities to see profit-taking when its main gauge nears 3,291-3,331 points.
Translated by: Julian Nabil
