Dubai – Mubasher: UAE stock markets are likely to deliver a positive performance on Thursday thanks to reports on new banking acquisition in Abu Dhabi Securities Exchange (ADX), according to analysts.
UAE markets were led higher yesterday by the banking sector that rose 2.83% in the ADX and 1.7% in the Dubai Financial Market (DFM) amid news of new banking mergers, said market analyst Doaa Farouk.
Most portfolios are likely to have a tendency for buying local stocks that have hit attractive technical marks, said market analyst Nouaf Al-Mouniri.
The ADX main index could extend gains as long as moving above 4,280 points, Hamoud Al-Shammari explained.
Meanwhile, the DFM general index is likely to rise in the coming sessions to the important resistance of 3,290 points, a level from which the index may rise to 3,310 points, Nouaf Al-Ajmi said.
