By: Mahmoud Gamal
Dubai – Mubasher: Selective purchasing for the medium and defensive stock portfolios will support the stability of the UAE markets on Wednesday, according to analysts.
The UAE markets will see a mixed performance in today’s session, amid collection operations that focus on the medium stocks, technical analyst, Hassan Al Zawy, told Mubsher.
He added that the purchasing of some shares decreased the losses of the UAE markets earlier.
Both Dubai Financial Market (DFM) and Abu Dhabi Exchange (ADX) ended Tuesday high: Abu Dhabi Commercial Bank advanced 3.55%, RAK Properties added 1.5%, Union Properties hiked 5.05% and DXB Entertainments increased 2.22%.
Al Zawy noted that UAE markets are still suffering from speculations with the absence of the foreign investment.
Moreover, technical analyst, Tareq Ghanem, expected that the downward vertical fluctuation would return during the coming sessions, with the main index of DFM below the level of 3,400 points.
Ghanem advised traders to increase positions in medium and some leading stocks, for which he sees good operating results, despite the expected temporary decline.
