By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to see active trades in September following the end of the Eid Al Adha holiday as some stocks reached attractive price levels.
The UAE bourses had earlier announced that the Eid Al Adha holiday will start on 31 August, with trading activities to resume on 4 September.
The UAE stock markets saw weak trades in line with the significant decline in liquidity ahead of the holiday due to the lack of catalysts or positive news, according to Eyad Al Bouriki, general manager of Al Ansari Financial Services.
Despite calm trades, the Dubai Financial Market (DFM) managed to maintain its positivity and stay above 3,600 points, reflecting that some traders held their positions, Al Bouriki noted.
The markets are expected to regain investors’ confidence in September after the Eid Al Adha amid expectations that liquidity will recover, Al Bouriki said.
Traders are expected to invest in low-priced stocks following the end of annual vacations, according to Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi.
Local stocks, especially in the real estate sector, are expected to see active trades ahead of Cityscape Global 2017 to be held at the Dubai World Trade Centre from 11 to 13 September, according to Essam Kassabia, a financial analyst at Menacorp Financial Services.
Stocks of some companies, topped by Emaar Properties, will see higher investments by non-Arab traders in September, Fady Al-Ghattis, CEO of Topsy Turvy, told Mubasher.
The UAE markets may be affected by the escalating crisis over North Korea's nuclear threats, Al-Ghattis noted.
Translated by: Julian Nabil
