By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets need a long-term institutional intervention to take advantage of current prices of some blue chips, analysts told Mubasher.
Al-Sharhan Centre General Manager, Gamal Agag, said that the UAE bourses managed to recover some of its losses this week after the positive results posted by some major companies like Emaar Properties.
Agag asserted that the fall in the UAE stock markets was a result of speculations on blue chips.
Meanwhile, technical analyst, Doaa Majid, said that the strong trading activity by foreign investors in the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX), despite the split over the US interest rate hike, is a good sign.
Net foreign investment in the DFM reached AED 21.460 on Wednesday and foreign purchases by non-Arab investors amounted to AED 96.73 million.
Translated by: Elwy el-Manzalawy
