By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to continue their positive performance, amid expectations of new liquidity, analysts told Mubasher.
Institutional investors are expected to pump new cash in the markets in the coming sessions, after blue chips reached attractive price levels in line with the approach of first-half financial disclosures, according to technical analyst Badr Al Otaibi.
Banks and other blue-chip stocks are attracting local investors; yet, liquidity is still modest, Al Otaibi added.
Some troubled companies started to see an uptrend amid expectations that they will turn profitable and their operational performance will improve, Al Otaibi noted.
Dubai’s stock exchange is expected to move between 3,455 and 3,460 points in the coming sessions until positive news regarding listed companied emerges.
Abu Dhabi’s bourse is likely to move within the range of 4,450-4,530 points, before rising to 4,460 points on the medium-term.
Translated by: Julian Nabil
