By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to lure in new liquidity as some stocks reached attractive price levels, and investors began to move away from caution, analysts told Mubasher.
The exchanges became less affected by news related to troubled listed companies, analysts added.
The gradual recovery of liquidity will enable the UAE markets to break their resistances, capital market analyst Ahmed Al Emadi told Mubasher.
The Abu Dhabi Securities Exchange (ADX) and Dubai Financial market (DFM) see resistance at 4,500 and 3,400 points, respectively.
Improvement of trading volume and turnover in the recent sessions reflect that the markets will resume their uptrend, he added.
Current prices of stocks will encourage traders to make purchases on the medium- and long-term, Al Emadi noted.
Liquidity is expected to improve further in the coming sessions as most traders will tend to make use of stocks’ current prices, capital market analyst Nawaf Al Ajmi said.
Translated by: Julian Nabil
