By: Mahmoud Gamal
Dubai – Mubasher: Investors in the UAE stock markets are expected to focus on speculative stocks after hitting attractive levels and the indices reached significant trends that make them able to maintain rising.
Investors started to trade on small-cap speculative stocks during the previous trading sessions, such as Drake and Scull’s stock which gained 1.36% to AED 2.23 this week, financial analyst at Menacorp Financial Services Essam Kassabia told Mubasher.
The Khaleeji Commercial Bank’s (KHCB) listing on the Dubai Financial Market (DFM) on Tuesday is forecast to boost the banks sector, Kassabia indicated.
The KHCB, listed on the Bahrain bourse, has been the first dual-listing on the DFM since the end of 2016.
Kassabia praised recent listing of the Bahraini bank, a subsidiary of GFH Financial Group, on the DFM ahead of the end of 2017 and the anticipated dividend distributions.
This listing will positively impact trades of GFH Financial Group and other stocks, particularly SHUAA Capital, he highlighted.
Moreover, Iyad Aref, CEO of NamaaZone Research, said that the indices of the UAE bourses are currently seeing buying trends and a huge accumulative wave.
The DFM may surpass accumulation levels between 3,360 and 3,330 points, which will keep prices at remarkable levels and boost liquidity, Aref noted.
Translated by: Mai Ezz El-Din
