By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets need some time to absorb some negative factors that affected traders’ sentiment in the aftermath of US elections.
The bourses saw a negative performance on Wednesday, weighed down by the drop of global market after Donald Trump’s election, in addition to lower oil prices and tendency of some foreign investors to sell, capital market analyst Ahmed Al Saif told Mubasher.
“Excessive pessimism” pushed some investors to sell both losing and winning stocks, leading to a rise in trades, the analyst added.
The markets are likely to hold on Thursday as technical indexes are trying to exit their downtrend, Al Saif noted.
Some investors are shying away from the markets and this may push the main indexes to decline below their support levels, capital market analyst Mohammed Al Shammari said.
Translated by: Julian Nabil
