By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets still await new catalysts to be able to overcome the fluctuations they are witnessing amid weak liquidity, analysts told Mubasher.
The Dubai Financial Market (DFM) added 0.02% at Thursday’s close, while the Abu Dhabi Securities Exchange (ADX) went up 0.78%.
The UAE stocks are still weighed by investors’ uncertainty, along with the lack of positive news and catalysts despite the rise of trading volume and turnover in the past sessions, technical analyst Jamal Ajaj stated.
The markets saw calm trading in the past week, reflecting traders’ lack of confidence which is expected to continue in the coming sessions, although some stocks reached attractive price levels, the analyst added.
The markets’ liquidity and trading volume are expected to rise in the coming sessions after listed companies complete the payment of their annual dividends, Ajaj explained.
Small caps are seeing accumulation in line with the movement of their financial indicators at a narrow range, capital market analyst Bassem Ahmed told Mubasher.
Some UAE stocks, which reached high price levels, are expected to see profit-taking by speculators, Ahmed noted.
Translated by: Julian Nabil
