By: Mahmoud Gamal
Mubasher: Investors in UAE stock markets are expected to increase positions on UAE stocks during Tuesday’s session, pushed by the news about possible merger deals announced by SHUAA and GFH, according to analysts.
Merger news, especially in the banking sector, will boost the markets and help in handling the pressures caused by the slowdown of the global economy, capital market analyst Muhammed Al Azmi said.
The announcements of the first quarter's financial statements are expected to positively impact the markets in the current time, he noted.
The majority of portfolio investments are back to hold on to the purchasing trend on local shares which have reached attractive levels, capital market analyst Nawaf Al Taye said.
Small investors are advised to expand positions in line with the Dubai Financial Market's (DFM) main index approaching a key resistance level at 3,550 points and the Abu Dhabi Securities Exchange (ADX) facing support at 4,360 points.
