By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are expected to see a positive performance on Wednesday as the oil prices rose and some investors intend to accumulate portofolios, analysts told Mubasher.
The UAE stocks are likely to rebound as oil prices jumped 4%, pushing the energy sector to recover and global markets to rally on Tuesday, capital market analyst Faisal Boushahri told Mubasher.
He added that the UAE markets saw a slight decline on Tuesday, reflecting trading pressures on stocks rather than investors’ anxiety.
Boushahri went on to say that the UAE major stocks are still supported by a good solvency which will appear after the annual financial results.
The markets’ trading volume is projected to rise in the coming weeks due to the influx of long-term investments, said senior technical analyst Hamoud Al-Azmi.
Al-Azmi noted that some selective stocks, which witnessed heavy purchases, are likely to rebound.
Translated by: Julian Nabil
