Dubai-Mubasher: The UAE stock markets are still suffering weak liquidity as well as the absence of the institutional investor, giving the chance for speculators to control the market after Tuesday’s falls, analysts told Mubasher.
Estimates of lower oil prices, echoing volatile petroleum and global markets, will reflect negatively on the UAE stock exchanges, said Talal Al Khouri, Chairman of Al Awael Holdings.
Liquidity is tightening as summer vacation season is approaching, capital market analyst Mohammed Al Kaabi said, expecting portfolios to focus on small caps in Wednesday’s session.
Dubai Financial Market’s (DFM) ability to regain its positive performance depends on whether the index closes above 3,370 points, technical analyst Mohamed Al Harbi said. He added that Abu Dhabi Securities Exchange (ADX) has to close above 4,480 points to reaffirm its positive position.
