By: Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are expected to hold and slightly rise on the back of selective purchases, despite oil price fall and volatile global equities, analysts told Mubasher.
Continuous accumulation of selective blue chips by some portofolio investors is likely to support the markets to continue their rise, according to capital market analyst Mohamed Mansour.
The UAE stocks still have good opportunities, compared to other Gulf markets, as they are trading at attractive levels, Mansour noted.
Purchases of foreign, Arab and local investors backed the rise of Dubai’s bourse, in line with diminishing fears over the fall of Saudi Stock Exchange (Tadawul), market analyst Ahmed Al-Samer told Mubasher.
Technical levels at which most stocks stand confirm that the markets will maintain their positive performance on Wednesday, market analyst Ahmed Al-Samer told Mubasher.
Most investors prefer to keep their cash at the current period till the markets give an entry signal to purchase stocks when they reach better price levels, Al-Samer noted.
The markets are expected to see active trading when the third-quarter financial announcements start, the analyst added.
Translated by: Julian Nabil
