By: Mahmoud Gamal
Dubai-Mubasher: UAE markets are expected to continue their positive performance on Thursday amid expectations of increasing positions in some blue chips, alongside the oil price rise.
Tendency of portfolio investors to increase their positions in local stocks may give a signal for markets to continue rising on Thursday, according to capital market analyst Nawaf Al-Ajmi.
Blue chips declined recently below their fair values so traders started to make use of their attractive prices, the analyst explained, noting that traders still see the markets as having good investment opportunities.
Dubai’s main index is technically targeting the levels of 3,399 and 3,410 points respectively, capital market analyst Mohammed Al Kaabi said.
Closure of Abu Dhabi bourse above 4,400 points pushes its main index to approach 4,450 and 4,480 points respectively, Al Kaabi noted.
Translated by: Julian Nabil
