By: Mahmoud Gamal
Dubai – Mubasher: The performance of the UAE bourses over the previous trading session was not consistent with most listed-firms’ significant annual profits, analysts told Mubasher.
By the end of Sunday’s trading session, the Dubai Financial Market (DFM), pressured by Emaar Properties’ stock, while the Abu Dhabi Securities Market (ADX) rose slightly on the back of Emirates Telecommunications Group (Etisalat).
The UAE stock markets are currently witnessing an unusual performance that is not compatible with major firms’ positive financial results, general manager of Al-Sharhan Centre Jamal Ajaj said.
These remarkable financial results did not positively impact the local markets and stocks’ prices, Ajaj highlighted.
Most of the stocks’ prices almost retreated and liquidity ratios fell, in line with the absence of investors’ confidence in the bourses, he added.
It is currently difficult to predict what would happen over the coming period, but the Emirati stock markets may maintain the recent trend until new catalysts boost the markets and change the indices’ declining trend, he indicated.
Ajaj also stressed that the current prices of stocks are considered as attractive and profitable, mainly stocks of the real estate and investment sectors.
He further noted that earnings from the local stock markets are still better than banks’ deposits which has a low return compared with the return on stocks.
Translated by: Mai EZZ El-Din
