By: Mahmoud Gamal
Dubai-Mubasher: Selective purchases on blue-chip stocks may help the UAE markets to hold on Sunday, amid anticipation of Morgan Stanley Capital International’s revision (MSCI) by the end of May.
UAE markets are expected to continue their fluctuations on Sunday and Monday, concurrently with accumulation of blue chips by some foreign investors, according to analyst Basil Al-Okail.
Negative expectations ahead of the revision of UAE indices by MSCI are hindering the flow of higher liquidity, Al-Okail explained.
The markets still have good investment opportunities compared to their peers, the analyst noted.
Most investors prefer to keep their cash until the markets become calmer and stocks reach better price levels, technical analyst Ibrahim Al-Failakawi said.
The markets are unlikely to see big movements whether downward or upward, especially with the approach of summer vacation and Ramadan.
Translated by: Julian Nabil
