Dubai-Mubasher: The UAE stock markets are still controlled by speculators amid the lack of catalysts in the current period, which will negatively affect liquidity, analysts told Mubasher.
Dubai Financial Market (DFM) closed at a rise on Monday, backed by the positive performance of leading stocks in the banks and real estate sectors.
Speculators are obviously controlling trading as investors are awaiting the announcement of companies’ financial results for the fiscal year 2015, said financial analyst Amir Mansour.
The DFM main index, or DFMGI, is continuing its downward trend, Mansour said, adding that the support level stands at 3,000.
Abu Dhabi Securities Exchange (ADX) ended stronger on Monday at for the fourth successive session, spurred by an upward trend of the telecom and real estate sectors.
Lack of catalysts makes markets more susceptible to fluctuations, according to Ehab Rashad, Managing Director and Mubasher for Securities.
