By: Thabet Shehata
Dubai-Mubasher: The UAE equity markets need to maintain an upward trend in the coming sessions to exit the current fluctuations and regain investor confidence, analysts told Mubasher.
Dubai Financial Market (DFM) snapped a two-day decline on Monday, boosted by Arabtec, Dubai Islamic Bank and Dubai Investments.
Similarly, Abu Dhabi Securities Exchange's (ADX) benchmark rose 0.96% or 39.41 points to close Monday at the 4,135.99 points, fuelled mainly by the real estate sector, in addition to telecoms and banks.
The markets are anticipating external factors and changes in oil prices, especially after the end of third-quarter financial announcements, said Ehab Rashad, managing director at Mubasher Securities.
Oil price stability helped UAE markets to partially exit the negative atmosphere that has recently overshadowed equity performance on the back of disappointing financial results.
UAE markets need to witness some movements to rearrange portfolios through changing positions in the coming period, following the fall of prices to luring levels, analysts told Mubasher.
Translated by: Julian Nabil
