By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets witnessed low liquidity recently, amid the absence of institutional investments and control of speculations as investors await new catalysts like first-quarter financial announcements.
The market’s weak trading in the past week is mainly attributed to a decline in investors' confidence, Jamal Ajaj, director of Al Sharhan Shares Centre in Abu Dhabi, told Mubasher.
Investors should not venture due to the absence of internal catalysts, he added.
Quarterly financials did not affect the markets’ overall performance so far, as not all companies disclosed their results yet, Ajaj noted.
The market’s performance was affected by investors’ unwillingness to increase their positions amid fears from first-quarter financials, capital market analyst Salem Al Neweiri said in a statement to Mubasher.
Increased sales by institutional investors are worrisome, Al Neweiri noted.
Translated by: Julian Nabil
