By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are expected to witness building new positions by investors as most stocks reached attractive price levels amid the drop of indexes, analysts told Mubasher.
The fall of leading stocks to attractive price levels paves the way for the medium and long-term investors to build new positions, said Tarek Al Essawy, CEO of a financial consulting company.
He added that selling pressures in Dubai Financial Market (DFM) is about to end despite continuous fears over negative performance of global markets and lower oil prices.
The UAE markets will rebound, giving an opportunity for speculators to buy.
The DFMGI will technically bounce to the levels of 2,600-2,620 points, Al Essawy said, adding that the worst case scenario is that the index will close below 2,600 points.
Translated by: Julian Nabil
