Dubai – Mubasher: The majority shareholders in the UAE stock markets are still maintaining their shares and investment positions despite of the previous sessions' downturn, analysts told Mubasher.
Market analyst Mohamed Al-Azmi said "UAE markets saw no broad selling wave in spite of the significant downturn", citing low trading values and volumes as an evidence that no liquidations are occurring.
The current downturn is driven by a number of factors undermining investors' confidence, including the delay of Q3 financial and lack of positive data, Al-Azmi indicated, expecting that majority shareholders to make no changes in the coming days.
Capital analyst Nouaf Al-Shammri attributed this downward trend to the jittery performance global and regional markets are delivering, in particular the Saudi bourse, which is the leading emerging market in the Middle East.
The analyst noted that foreign portfolios are practicing pressures to lower share prices as much as possible before repurchasing them. "Here the role of national investors comes to restore the balance", Al-Shammri concluded.
