By: Mahmoud Gamal
Dubai – Mubasher: The UAE stocks are awaiting new catalysts to be able to overcome the volatile performance it witnessed recently along with weak liquidity, analysts told Mubasher.
The Dubai Financial Market (DFM) rose 0.45% on Monday, while the Abu Dhabi Securities Exchange (ADX) went down 0.2%.
The UAE stocks fluctuated on Monday, weighed down by the lukewarm performance of blue chips amid anticipations of positive news like second-quarter financials, according to technical analyst Hamed Al Anqari.
Dubai’s main index may target important resistances at 3,430 and 3,500 points, respectively, the analyst added.
The markets’ biggest challenge is to attract more liquidity this week to maintain last week’s gains, Al Anqari added.
The markets are getting reading for a strong rally on the medium- and long-term; yet, they need sufficient liquidity to be pumped especially in blue chips, capital market analyst Bassem Ahmed said.
Translated by: Julian Nabil
