By: Mahmoud Gamal
Mubasher: The indices of both the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) are still being controlled by speculators amid lack of catalysts, negatively impacting the liquidity, analysts told Mubasher.
Investors are awaiting the income statements of the first quarter by the end of March to arrange their investment positions, capital market analyst Ahmad Ismail said.
Individual investment is taking control of the UAE stock markets, leading the securities to be open to continuous fluctuation, capital market analyst Hammoud Al Anzi said.
Despite the recent fluctuations seen at global markets in the past weeks, the UAE markets have attracted liquidity with new opportunities, technical analyst Faisal Al Maary said.
On the technical level, the DFM’s main index is expected to target levels approaching 4,550 points and 4,600 points during March, technical analyst Muhammad Radwan said.
Meanwhile, the ADX’s benchmark index is forecast to see a sideways performance between the levels 4,500 and 4,700 points, Radwan added.
