By: Bedour Alraei
Abu Dhabi-Mubasher: UAE equity markets are likely to continue to hold till the end of this week amid strong trading on some blue-chip stocks, analysts told Mubasher.
Dubai Financial Market (DFM) continued Tuesday its gains for the second session in a row, mainly spurred by Emaar Properties, in addition to Dubai Islamic Bank and Dubai Investments.
Likewise, Abu Dhabi Securities Exchange (ADX) maintained an upward trend for the second successive session , backed by leading sectors especially the real estate.
UAE markets managed to absorb and recover from the wave of declines which hit most Gulf markets, said Tariq Qaqish, deputy head of asset management at Al Mal Capital in Dubai.
He added that equities saw an improvement in their trading despite low liquidity and the attempt of some investors to pressure on leading stocks through keeping their portfolios.
Investors are still cautious, Qaqish said, adding that losses of some important companies like Arabtec are still weighing on their sentiment.
He advised investors to focus on stocks with high returns such as du, in addition to banking stocks despite the pressure they witnessed from foreign portfolios.
Translated by: Julian Nabil
