By: Mahmoud Gamal
Dubai – Mubasher: Local investors and speculators are expected to continue selective buying of UAE listed small- and mid-cap stocks on Wednesday, amid a recovery in investment appetite.
Investors’ trades were focused on small caps like GFH Financial Group, Eshraq Properties, Union Properties and Manazel Real Estate on Tuesday, following news on possible acquisition of new development projects, market analyst Mohamed Al-Azmi added.
The UAE markets are expected to break important resistance levels in the coming sessions, in line with announcement of annual financials and dividends, Al-Azmi added.
Some investors tended to speculate in the past period of this year especially on small-cap stocks, capital market analyst Mohammed Al Shammari said.
Positive expectations for annual results of some small firms pushed portfolio investors to sell blue chips and direct their investments towards the shares of these firms, Al Shammari noted.
Rise of US stocks will push investors increase their positions in the UAE stocks, thus helping the indexes to hold at their current levels, financial analyst Daem Sultan said.
Translated by: Julian Nabil
