By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to witness a process of rebuilding new price positions on Tuesday and Wednesday as blue chips have reached attractive levels, in line with the rise of global and regional markets, analysts told Mubasher.
The levels blue chips have reached will be a start for building purchase positions for both medium and long-term investors, said capital market analyst Thabet Al-Manna’.
As speculators continue to have selective purchase, Tuesday’s session is projected to have a good rebound on the level of Abu Dhabi Securities Exchange (ADX), while Dubai Financial Market (DFM) is likely to continue the upward performance, the analyst added.
DFM’s benchmark index is still in the rising levels of 3,600 and 3,750 points, the analyst said, noting that the market would fall if the index breaks the level 3,200 points. Meanwhile, ADX is having big technical volatility, with expectations to reach 4,600 points in the coming sessions.
The UAE stock exchanges are still moving on a sideways level amid lack of liquidity, said capital market analyst Abdullah Al-Alei.
Translated by: Ingy ElSafy
