By: Mahmoud Gamal
Mubasher: The UAE markets are expected to hold at their current levels on Wednesday, despite weak liquidity and lack of internal catalysts, analysts told Mubasher.
Thin liquidity the market is currently witnessing should not be a cause of fear, especially amid the rise of individual investors’ confidence in local markets, financial analyst Mahmoud Ziad told Mubasher.
First-quarter financials, which came lower than expected, still have a negative impact on the stocks’ performance, the analyst added.
Most traders prefer not to trade and just monitor UAE stocks’ performance till the markets’ trend becomes clearer, Ziad noted.
The markets are currently seeing selective purchases as some portfolio investors are increasing their positions, according to capital market analyst Nawaf Al Shammari.
The UAE stocks are moving sideways in a very narrow range that does not show a clear trend, Fahad Al-Azmi explained.
Al-Azmi advised investors to buy stocks that are still below their fair values.
Translated by: Julian Nabil
