By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are currently standing at good technical levels despite some fluctuations due to traders’ anxiety over the remaining quarterly financials of blue chip companies, analysts told Mubasher.
The stability of the Dubai Financial Market (DFM) above 3,400 points is a good signal, amid a positive outlook for leading companies’ first-quarter results, Fady El-Ghattis, CEO of Topsy Turvy Consultations, stated.
Quarterly financials are currently the main factor that affect the markets’ performance, El-Ghattis explained.
Portfolio investors started to increase their positions in some selective blue chips, the analyst told Mubasher.
The DFM is expected to rebound in the coming sessions if it stabilises above 3,400 points, El-Ghattis noted.
Dubai’s bourse is expected to be weighed on Thursday by the annual dividend payout of Emaar Properties and Emaar Malls Group (EMG).
Translated by: Julian Nabil
