By: Mahmoud Gamal
Dubai-Mubasher: The UAE blue chips managed to bring new liquidity to the local stock markets on Sunday, analysts told Mubasher.
Major firms like Emaar Properties, GFH Holding and Arabtec Holding witnessed some positive news, thus boosting the confidence of investors to continue buying shares in such companies’ stocks, according to capital market analyst Salem Al Nowairy
One of the top news is that Emaar started to invest in a project worth $1 billion in Turkey, Al Nowairy said, adding that GFH also announced it will transfer its shares listed in Kuwaiti bourse to Dubai Financial Market (DFM).
GFH posted a 31% growth year-on-year in its consolidated net profits during the first half of 2016.
One another note, capital market analyst Basel Abu Teima said that the UAE markets are technically exhibiting an upward trend.
The markets’ uptrend is usually dependent on the rise of liquidity to AED 500-600 million, Abu Teima noted.
Translated by: Julian Nabil
