Dubai – Mubasher: UAE stock markets likely to fall under speculators' control on Thursday amid lack of positive data as well as lower liquidity levels, according to analysts.
Capital market expert Ibrahim Al-Failakawi said UAE bourses likely to be prone to speculators' jittery trading. In addition, institutions' weaker buying appetite is battering the markets' turnovers as portfolio and fund managers are lying in wait for new data that will determine the markets' trend.
However, financial and technical indicators prove that greater investment opportunities are to rise up under the current solid and stable status of the national economy, capital market analyst Mohammed Al-Anzi told Mubasher.
"Institutions usually take longer time than individuals when deciding on a stock as the former studies the stock movement in details", Al-Anzi commented on institutions' weaker buying appetite.
On Wednesday, the ADX general index retreated 0.49% or 22.24 points to reach 4,513.16 points, pressured down by the decline of positions in heavyweight stocks, in addition to the fall of oil prices below $50 per barrel, according to capital market analyst Amer Al Muhair.
The DFM benchmark index slid 1.51% or 53.37 points to reach 3,480.46 points as closure of oil prices below $50 per barrel affected the investors’ sentiment, capital market analyst Gamal Abdel Hamid said.
