By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets need new catalysts to be able to overcome their current fluctuations that resulted from low liquidity, analysts told Mubasher.
The UAE markets declined on Wednesday due to rising geopolitical tensions after North Korea’s missile launch over Japan, in addition to tropical storm Harvey in the US, capital market analyst Mohamed Al Azmi said.
The markets’ current low liquidity is normal due to the summer vacation and Eid Al Adha holiday, technical analyst Hassan Al Hosni said.
However, the bourses are still holding at good levels on the back of selective purchases of blue chips, Al Hosni noted.
The main indices’ recovery is dependent on the third-quarter financials, he added.
Portfolio investors are expected to invest in operational stocks in the current period, as the markets are likely to see active trades following the end of the Eid Al Adha holiday, Al Hosni concluded.
Translated by: Julian Nabil
