By Mahmoud Gamal
Dubai – Mubasher: Speculators in UAE stock markets are forecast to control the trading activity on Monday due to weaker liquidity levels, analysts told Mubasher.
Unstable oil prices and Q3 financials coming below estimates are leaving negative impact on portfolio and fund managers' sentiment, said market analyst Nouaf Al-Ajmi, advising traders to avoid building position on local stocks as long as liquidity level and buying volumes falls beneath the markets' bottom line.
This jittery performance is likely to continue until the end of Q3 financial season, namely oil prices are witness a sort of instability after non-OPEC producers have taken no actual steps to join OPEC in limiting oil output, said market analyst Waleed Khtab, indicating that any rebounds do not mean that the markets have stepped out the downward channel.
Yesterday, the ADX main index fell 0.14% or 6.16 points to reach 4,286.34 points, while the DFM general index rose 0.08% or 2.53 points to reach 3,320.92 points.
