By Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are forecast to keep suffering from low liquidity levels and lack of institutional investments on Wednesday, analysts told Mubasher, expecting speculators to control the trading activity.
Talal Al-Khouri, the CEO of Al-Awael Holding, said UAE markets are likely to extend their mixed performance on Wednesday amid shallow trading activities, weak liquidity levels and lower oil prices, which all in all prompt investors, institutional ones in particular, to hold on until new positive data comes up to refresh the markets.
This positive turn is likely to occur when the Dubai financial market (DFM) steadies above 3,500 points and the Abu Dhabi Securities Exchange (ADX) closes over 4,480 points over the upcoming sessions, market analyst Mohamed Al-Harbi concluded.
On Tuesday, the ADX main index lost 0.41% or 18.6 points to reach 4,463.86 points, its lowest level since the end of last June.
The DFM benchmark index fell 0.85% or 29.6 points to reach 3,455.18 points.
