By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are expected to rebound this week amid the intention of some investors in portfolios to accumulate and quickly speculate on selective stocks, thus making use of the financial results for the fiscal year 2015, capital market analysts told Mubasher.
DFM is likely to target 2,755 and 2,670 points respectively, UAE markets technical analyst Hareb Al Muhairi said, adding that ADX is expected to move towards 3,870 points.
Al Muhairi advised investors not to rush and indiscriminately sell, as well as not dramatising the issue of oil, especially after the lifting of sanctions on Iran.
The DFM stocks, most notably du, Emaar Properties, Air Arabia, Dubai Islamic Bank and Dubai Investments, reached attractive low price levels, thus encouraging traders to invest in them on the long run.
As for ADX, the most attractive stocks are Aldar Properties, Etisalat, First Gulf Bank, Abu Dhabi Islamic Bank and Sharjah Islamic Bank, noted Al Muhairi.
The markets are likely to see rebound, giving a good opportunity for speculators and short-term investors to enter, said Tarek Al Essawy, CEO of a financial consulting company.
He expected the local stocks to generally continue their losses yet at a slower pace this week.
Translated by: Julian Nabil
