By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to continue their positive performance on Thursday amid expectations for increasing positions of blue chips, in line with the strong rises of global markets, analysts told Mubasher.
The link between the UAE stock exchanges and global markets has been getting stronger in the recent period, said capital market analyst Bassel Abo-Teima.
As Dow Jones Industrial Average index reaching significant levels, local shares are likely to continue their positive performance in Thursday’s session.
The resolution of the European central bank regarding the interest rate on euro as well as the monetary policies is among the anticipated events for the day, he added.
The analyst clarified that if liquidity exceeds AED 600 million, indices of local shares may be supported to break a key resistance level in the coming session.
Dubai Financial Market (DFM) will be facing resistance at 3,580 points which may lead to 3,620 points, said analyst Sultan Saied.
Abu Dhabi Securities Exchange (ADX) may approach the levels 4,620 and 4,650 points if the main index breaks 4,600 points, said UAE capital market analyst Mohamad Al-Ahbabi.
Translated by: Ingy ElSafy
