By: Mahmoud Gamal
Dubai – Mubasher: Selective purchasing to the medium and defensive stocks supports the stability of the UAE markets on Thursday, anticipating US markets performance approaching the official inauguration of Trump.
UAE markets are expected to maintain their upward horizontal performance on Thursday, amid the consolidations of medium stocks by investment portfolios, technical analyst, Hassan Al Zawy, told Mubasher.
Some purchases on small stocks shrank the losses of the markets on Wednesday, Al Zawy added.
Both Abu Dhabi Exchange (ADX) and the Dubai Financial Market (DFM) ended Wednesday in the red, on the back of profit taking , but some leading small stocks rose, led by Dubai Investments and Deyaar Development which increased 0.4% and 2.34%, respectively.
Al Wathba National Insurance added 14.4%.
Moreover, technical analyst, Tareq Ghanem, expected that the fluctuation would continue with a tendency to upwards in the UAE markets in the coming sessions, with a higher liquidity of small stocks which became attractions to the investment funds.
