By: Mahmoud Gamal
Dubai – Mubasher: Local investors and speculators are expected to continue their selective buying of UAE small- and mid-cap stocks on Monday and throughout the rest of this week, especially after they reached low and attractive price levels, analysts told Mubasher.
Investors’ trades were focused in Sunday’s session on small-cap stocks like GFH Financial Group, Eshraq Properties and SHUAA Capital, capital market analyst Mohamed Al-Azmi, told Mubasher.
Active trading on these three stocks was mainly attributed to the news that Eshraq will announce further details on its projects in UAE on Monday and SHUAA will reveal updates on its business in a press conference within weeks, in addition to the possibility that GFH will distribute dividends for 2016.
Ability of speculative stocks to maintain their price levels made investors feel that the markets will be able to stand hold against profit-taking, financial expert Mohammed Al Shammari said.
Expectations that small-cap firms will post higher annual results pushed some portfolio investors to exit blue chips and direct their investments towards the shares of these firms, Al Shammari noted.
Translated by: Julian Nabil
