By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to continue their rise on Tuesday, amid increased accumulation by institutional and foreign investors following positive news related to some blue-chip companies led by Emaar Properties.
Most UAE stocks are likely to see higher selective purchases after some of them reached attractive price levels, gulf market analyst Mohammed Al Ahbabi said.
Transactions carried out on selective stocks in the past sessions reflect that the markets are regaining investors’ confidence, Al Ahbabi added.
The markets are expected to continue their positive trend till the end of June, in line with accumulation of insurance stocks and other speculative ones, he noted.
Emaar’s plan to offer up to 30% of its UAE property development business through an initial public offering (IPO) still have a positive effect on the main indexes, Al Ahbabi explained.
Dubai’s bourse is expected to continue its rise and reach 3,520 points, technical analyst Mohammed Al Shammari said.
Investors will tend to increase their positions in stocks with good operational performance, Al Shammari added.
Translated by: Julian Nabil
