By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to continue their rise on Thursday, amid the increase of liquidity along with investors’ tendency to increase their positions in some attractive stocks, analysts told Mubasher.
Blue-chip stocks saw selective purchases after they reached attractive price levels, capital market analyst Bader Al Otaibi said.
Speculative stocks in the real estate and investment sectors still attract a large number of investors, Al Otaibi added.
Liquidity recovery was mainly driven by selective purchases of some stocks following the announcement of Emaar’s plan to offer its UAE property development business through an initial public offering (IPO), along with the approval of Orient UNB Takaful’s application for listing on the securities, capital market analyst Ahmed Al Emadi told Mubasher.
Emaar’s stock jumped 8.6% on Wednesday after the developer unveiled its intention to offer up to 30% of its property arm in the IPO on Dubai’s bourse, Al Emadi noted.
The company’s IPO plan boosted investors’ sentiment and pushed Dubai’s market higher as it is a heavyweight stock, financial analyst Wadah Al Taha said, adding that the stock is likely to continue its growth in the coming sessions.
Dubai’s bourse has many good investment opportunities on the medium- and long-term, Al Taha added.
Translated by: Julian Nabil
