By: Mahmoud Gamal
Abu Dhabi – Mubasher: The UAE stock markets are expected to resume their uptrend on Thursday, amid buying momentum of some real estate stocks like Emaar, analysts told Mubasher.
Active trades on real estate stocks in line with the approach of Cityscape Global 2017 pushed the main indexes to hold at their current levels, capital market analyst Mohamed Al-Azmi told Mubasher.
Emaar always leads gainers in the Dubai Financial market (DFM) and has the heaviest weight, technical analyst Ahmed Al Attar said.
Emaar’s stock currently stands at important resistance level of AED 8.65, above which the stocks is expected to reach AED 8.84-9.53, Al Attar noted.
DFM’s main index is moving sideways between 3,600 and 3,200 points for almost two years due to weak liquidity in most sectors, Al Attar added.
Investment liquidity is focused on Emaar, Dubai Islamic Bank (DIB), Dubai Investments and Damac Properties, according to Al Attar.
Translated by: Julian Nabil
