By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock exchanges is suffering the absence of institutional investors, giving the chance for speculators to direct the markets after the mixed performance seen on Monday.
The UAE markets are still suffering from weak liquidity as some companies showed quarterly financial results below estimates, capital market Adnan Al-Mansoury said.
Portfolios are expected to increase their positions through medium-shares, capital market analyst Abdullah Al-Alei said.
He noted that some blue chips are being so active before announcing the quarterly financial results which will be followed by exit for the profit-taking activity. This could lead to further pressure on stocks.
The positive performance of Dubai Financial Market (DFM) and Abu Dhabi securities Exchange (ADX) is linked to reaching above 3,380 points and 4,300 points respectively for the coming sessions, technical analyst Mohammad Al-Harbi said.
Translated by: Ingy ElSafy
