Dubai-Mubasher: The UAE markets are likely to continue their volatile trend, while leading stocks are expected to reach attractive price levels, analysts told Mubasher.
Dubai Financial Market (DFM) closed at a rise for the second session in a row on Wednesday, backed mainly by Arabtec Holding, in addition to Dubai Islamic Bank (DIB) and National Bank of Abu Dhabi (NBAD).
Abu Dhabi Securities Exchange (ADX) saw a negative performance on Wednesday after nine sessions of rise, weighed by profit-taking and decline of banks and telecom stocks.
The UAE stocks are expected to see fluctuations on Thursday, the last day in 2015, amid continuous rebound of some selective stocks which witnessed heavy purchases before the end of this year, senior technical analyst Hamoud Al-Azmi.
Capital market analyst Amir Mansour said that speculators has been controlling trading in the UAE markets recently, amid anticipations of the companies’ financial announcements.
The UAE markets are in “desperate need” of catalysts to hold and rise, said Ehab Rashad, Managing Director, Direct Broker for Securities –Mubasher, Egypt.
He added that the UAE markets are expected to witness some movements to rearrange portfolios and funds through changing positions in the coming period and focusing on leading stocks which are likely to see active trading after the announcement of annual financials and dividends.
