By: Mahmoud Gamal
Dubai- Mubasher: The liquidity of the UAE stock markets are expected to rise during Wednesday’s trading session and the rest sessions of current week, in light with positive forecasts of the financial results in the third quarter of 2017, analysts told Mubasher.
On Tuesday, the turnover of the Dubai Financial Market (DFM) stood at AED 609.3 million, while the liquidity of the Abu Dhabi Securities Exchange (ADX) reached AED 195.5 million.
On Tuesday, the DFM inched down 0.06% closing at 3,608.82 points on Tuesday, whereas the ADX levelled up 0.48% to reach 4,472.04 points, registering its highest level since mid-September.
The DFM saw a strong performance during the first three trading sessions in this week led by the leading stocks to close in the green zone, Namaa Zone's CEO Eyad Arif said.
Arif forecasted that there will be selective buying for some stocks in the DFM.
The rumors and anticipating the financial results of Q3-17 will focus liquidity on the speculative stocks, Arif added, noting that the DFM has the technical ability to reach the level of 3,740 points during the coming weeks.
Trading on all stocks are implemented awaiting for the companies’ financial results for the first nine months of 2017, Issam Kassabieh, analyst in Menacorp said.
Kassabieh expected more trading on the stocks of insurance firms and real estate sector in the coming period.
On Tuesday, Drake and Scull International’s (DSI) stock led the DFM on terms of trading volume, Kassbieh noted.
Union Properties’ (UP) stock still in upwards trend in line with launching a new residential project, Menacorp’s analyst indicated.
Kassabieh expected that Dana Gas’ stock may rise again during the current week trading session before issuing decision its sukuk.
Translated by: Mohamed Hesham Azab
