Dubai-Mubasher: UAE markets are likely to hold on Thursday, amid expectations of re rearrange portfolios through changing positions after the stocks fell to attractive price levels.
Dubai Financial Market (DFM) ended Wednesday’s session in the red zone, after seeing the second biggest one-day losses in five months, as main sectors tumbled weighed by bearish sentiment in the regional markets and amid continued fall in oil prices and global bourses.
Abu Dhabi Securities Exchange (ADX) moved lower on Wednesday, reversing a two-session winning run, as it was dragged by the fall in oil prices to a 12-year low.
The market’s successive declines, mainly caused by lower oil prices and fluctuating global markets, led major stocks to fall, said Managing Director, Direct Broker for Securities –Mubasher.
He added that investors may tend to rearrange portfolios through changing positions to focus on selective stocks amid expectations of positive financial announcements by leading companies.
