By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to see a positive performance in Thursday’s session, as some of the investment portfolios tend to accumulate and speculate selective shares to improve the monthly closures, analysts told Mubasher.
The UAE exchanges are projected to see a positive rebound as the majority of shares lies at attractive levels, in addition to external catalysts like the oil prices which rose by 4% and the global stocks which levelled up for two sessions in a row, said capital market analyst Salem Al-Rashed.
The benchmark index of Dubai Financial Market (DFM) may break the current peak level of 3,304 points, Al-Rashed added, advising investors to hold their trading and gradually exit the market until it regains liquidity, if the main index does not break 3,400 points.
Trading activity is still at weak levels, with expectations for an increase in trading volume over the coming weeks due to the ongoing liquidity which targets long-term investments, said technical analyst Mohamad Al-Ka’bi.
The analyst said that some of the selective shares are foreseen to continue rebounding.
Translated by: Ingy ElSafy
