By: Mahmoud Gamal
Dubai – Mubasher: The UAE bourses are expected to see a negative performance on Thursday as investors are tending to profit-takings on real estate stocks topped by Emaar Properties.
The UAE markets are witnessing a weak performance, which pushed some investors to profit-takings, a financial analyst at Menacorp Financial Services Essam Kassabia told Mubasher.
Profit-takings are focused on real estate stocks, mainly Emaar Properties, Arabtec Holding, and Damac Properties Dubai Co, Kassabia highlighted.
The UAE bourses are likely to see a bearish trend as the pressures facing real estate stocks are forecasted to carry on to the next week, he indicated.
Drake and Scull International PJSC (DSI) is currently not able to maintain rising due to the huge losses the company achieved, he noted.
By the end of the financial results’ announcement period, Kassabia anticipated trading on the insurance sector’s stocks to continue amid the good financial results of the sector’s companies.
The insurance sector’s companies are likely to see a bullish wave that push it to high levels, the analyst said, pointing out that this depends on the selective buying the stocks currently witness.
Translated by: Mai Ezz El-Din
