By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to be supported by the first-quarter financial announcements of some companies led by Emaar Properties and Aldar Properties on Wednesday, capital market analyst Shehab Gargash told Mubasher.
There is a positive outlook for Emaar and Aldar’s Q1-17 results amid good news regarding their projects and operational performances, he added.
The UAE stocks are expected to hold at their current levels, from which they are expected to rise higher again, Gargash noted.
The markets’ low liquidity is normal in line with the near end of first-quarter financial announcements and change of strategic positions in some stocks.
The rebound of some blue chips on Tuesday reflects the optimism of traders who are waiting for new catalysts that may boost liquidity.
The UAE exchanges are expected to continue their sideways movement until the end of quarterly financial disclosures, capital market analyst Amir Mansour said.
Technical analyst Mohammed Al Shammari expected the market to rise on Wednesday, with the Dubai bourse’s main index likely to break above 3,450 points.
Translated by: Julian Nabil
