By: Mahmoud Gamal
Dubai – Mubasher: The UAE markets are seeing selective trades on small caps like GFH Holding Group, SHUAA Capital and Hits Telecom Holding by local investors and speculators, analysts told Mubasher.
The bourses have witnessed “immediate selling waves” on Sunday to make profit-taking, capital market analyst Mohammed Al Shammari said.
Speculations seen in the UAE bourses on Sunday pushed some stocks to rise, he said, adding that heavyweight stocks and blue chips saw weak trades, leading the markets to close Sunday’s session in the red, the analyst noted.
The exchanges still suffer from low liquidity as some companies delayed the announcement of their third-quarter financials, Al Shammari added.
The markets are currently seeing a volatile performance as most companies did not post higher-than-expected Q3 results, the matter that did not encourage investors to enter the market and make purchases, according to capital market analyst Nawaf Al-Ajmi.
Translated by: Julian Nabil
