By Mahmoud Gamal
Dubai – Mubasher: Speculators in the UAE stock markets are likely to keep having the upper hand amid lower liquidity levels and instable oil prices, analysts told Mubasher.
The sudden rise and fall of stock quotes are a significant indicator of speculators' control over the UAE bourses, said market analyst Faisal Al-Ma'ari. But With some selective stocks solidly adopting an upward trend, the UAE stock markets are likely to see further gains on the long run, the analyst expected.
Market analyst Mansour Al-Shamsi said the DFM general index is likely to open Sunday near the 3,482-487 area and to test the 3,505-510 area this week ahead of the US Fed decision over interest rates.
Al-Shamsi advised investors to resume the trading activity cautiously, believing emerging markets are seen negatively affected on higher US interests, which will likely send US dollar higher, as well as on any failure in the upcoming OPEC meeting.
"The next OPEC meeting and US Fed's decision on interest rates will shape the markets' movement in the remaining difficult trading sessions in September", Al-Shamsi concluded.
