By: Mahmoud Gamal
Dubai – Mubasher: The UAE markets stability on Monday and for the rest of the week is subjected to the entry of the long-term institutional investments to make use of the prices of some mega firms.
Investment portfolios tended on Sunday to purchase with net investments of AED 11 million, including AED 4 million in the Abu Dhabi Exchange (ADX) and AED 6.8 million in Dubai Financial market (DFM), according to the market's figures.
Foreign and GCC investors are trying to push on the prices of the shares before repurchasing them, as it was noticed that the selling pace rose in the second half of yesterday's session, technical analyst, Amer Al Mohanady, told Mubasher.
Foreign and GCC investors tended to sell with net investments of AED 37.5 million, including AED 11 million of the foreign and AED 9.57 million of the Arab, according to the market's figures.
Purchasing the investment and real estate shares by local and Arab investors contributed to the slight increase in the UAE markets on Sunday, after several consecutive declines, Al Mohanady added.
Moreover, technical analyst, Doaa Maged, told Mubasher that low liquidity makes it hard to technically expect a specific direction for the market, noting that the downward trend is the general of the markets.
The analyst pinpointed that the fluctuated performance will last for the coming period, may be till oil prices stabilise above $55 per barrel till the end of the month.
Translated by: Sara Ghali
