By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are expected to maintain their positive performance on Tuesday, amid speculative trades on selective stocks, analysts told Mubasher.
Portfolio investors have the desire to strengthen their positions, and make use of stocks at attractive price levels, technical analyst Ahmed Al-Zahouri said.
A break above 3,500 points by the Dubai stock market will support its main index to rise to 3,600 and 3,650 points in a row, Al-Zahouri added.
Portfolio investors to invest in Dubai-listed stocks like Emaar which targets AED 7, in addition to Eshraq Properties, Al Salam Bank and Union National Bank which see high turnover.
Commenting on the Abu Dhabi market, he noted that there are some good stocks like Aldar Properties which will stay in green as long as it is trading above AED 2.65.
Dana Gas and Eshraq Properties are also expected to see higher turnover as they stand at technical levels that are tempting to buyers.
“On their way north, local stocks have strong catalysts to capitalise on, topped by quarterly reports that are seen promising in light of economic growth and projects recently announced by listed firms,” technical analyst Salam Saeed noted.
Translated by: Julian Nabil
