By: Mahmoud Gamal
Dubai – Mubasher: Selective buying of speculative stocks and optimism regarding the firms’ good annual financials bolster the UAE stock markets to remain stable at their current levels on Tuesday’s trading session, analysts told Mubasher.
The Dubai Financial Market General Index (DFMGI) closed Monday’s session marginally up on the back of selective buying, while the Abu Dhabi General Index (ADI) edged up 0.30% to the level of 4,338.42 points.
Monday’s trading session was expected in terms of maintaining stocks’ prices unchanged, with some exceptions, and buoyant liquidity, compared to the previous sessions of December, general manager of Al Ansari Financial Services Eyad Al Bouriki said.
Optimism is currently dominating the latest sessions ahead of the New Year and firms’ annual financials and assets annual evaluation, Al Bouriki added.
Buoyant liquidity is forecast to continue over the next three sessions of 2017 and some stocks and indices are expected to soar, he noted.
Moreover, Essam Kassabia, financial analyst at Menacorp Financial Services, said that blue chips are expected to be heavily traded achieving strong liquidity over the coming sessions after the New Year holiday, which ends soon mid-January.
Blue chips are forecast to record significant profits, hence, generous dividends, Kassabia stressed.
The UAE stock markets have seen strong liquidity over some selective speculative stocks, topped by GFH Financial and Union Properties, during Tuesday’s session, he highlighted.
Translated by: Mai Ezz El-Din
