Dubai – Mubasher: United Arab Emirates’ stock markets need to continue on an upward curve to restore traders’ trust and attract and reluctant liquidity, according to analysts
Dubai Financial Market’s (DFM) main index closed Thursday in green, with significantly improved liquidity, setting the highest trend since August.
Meanwhile, Abu Dhabi Securities Exchange (ADX) benchmark index closed last session with the best performance in 10 weeks, driven by a rise in the energy and banking sectors.
Ehab Rashad, Chief Executive Officer of Mubasher Trade, said that relative improvements taking place globally and better oil prices reflect on the UAE stock markets recently.
“Low prices encouraged cautious traders to buy, leading shares in particular which earlier suffered from selling pressure,” Rashad explained.
Tariq Qaqish, head of asset management at Al Mal Capital, also said that UAE bourses managed to contain the wave of falls which hit most of the Arab and Gulf stock markets.
