By: Mahmoud Gamal
Dubai-Mubasher: UAE markets are expected to maintain their upward trend on Thursday, amid expectations of increasing positions in attractive blue-chip stocks, analysts told Mubasher.
Blue chips declined below their fair value on the back of the seven-day streak of losses they witnessed recently, so their prices become attractive for traders, capital market analyst Nawaf Al-Ajmi said.
Traders believe that the markets have good investment opportunities, Al-Ajmi noted.
Subscription to Dubai Parks and Resorts’ rights issue limited the liquidity decline that the local stocks suffered from recently, analyst Nehad Al Majed explained.
Dubai market’s main index sees important resistance at 3,370 points and 3,440 points, respectively, capital market analyst Salam Saeed said.
Closure of Abu Dhabi above 4,280 points will push its general index to approach 4,300-4,350 points, respectively, UAE markets analyst Mohamed Al Ahbabi noted.
Translated by: Julian Nabil
