By: Mahmoud Gamal
Dubai – Mubasher: The UAE stocks markets are expected to hold at their current levels on Monday, amid increased investments by foreign and some institutional traders, despite the volatility of global stocks and lower oil prices.
Foreign and institutional traders are raising their investments although the markets are seeing “big” fluctuations, reflecting that some stocks have price-earnings (P/E) ratios, capital market analyst Fawzy Abdullah told Mubasher.
The UAE markets, especially the Abu Dhabi Securities Exchange (ADX), managed to hold on the back of quick transactions on small caps, Abdullah added.
Abu Dhabi’s bourse was backed on Sunday by the strong performance of Dana Gas, according to Fady Al-Ghattis, CEO of Topsy Turvy.
Dubai’s exchange witnessed selling pressures on some blue chips on Sunday as investors sought profit-taking to make use of the stocks’ recent gains last week, Al-Ghattis added.
Translated by: Julian Nabil
