By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to continue holding at their current levels on Monday, amid increased foreign and some institutional investments, analysts told Mubasher.
The UAE main indices are expected to approach profit-taking, as foreign investors are increasing their purchases to make use of low-priced stocks, reflecting that stocks stand at good price-earning (P/E) ratios, capital market analyst Salem Al Nuwairi stated.
The UAE stock markets managed to hold on Sunday, backed by quick transactions on small caps, Al Nuwairi added.
Speculations still control the markets, amid anticipations for the remaining first-half financials of real estate companies, topped by Emaar Properties, Arabtec Holding, and Drake and Scull International (DSI), Al Nuwairi said, noting that the markets are expected to continue seeing buying momentum.
The bourses are still suffering from weak liquidity due to investors’ cautious trading, according to Wadah Al Taha, a member of the National Advisory Board of Chartered Institute for Securities & Investments (CISI).
Translated by: Julian Nabil
