Dubai – Mubasher: UAE stock markets are forecasted to stay flat in Thursday's trading session in spite of its volatile performance, lower oil prices, and global markets' downturn, said analysts
UAE stocks are likely to either stay unchanged or saw a slight slide on Thursday as local investors may tend to buy stocks despite increasing internal pressures, most significantly including the second quarter's negative financial results, market analyst Ahmed Al Samar told Mubasher.
"This proves how UAE stocks are subject to good investment opportunities on the mid-term", Al Samar said.
Currently, Dubai bourse's main index is having support at 3,520 points, the analyst added, clarifying that investors will likely carry out quick sell-offs if the benchmark holds below the above level.
Yesterday, the general index leveled down 0.85% or 29.93 points to reach 3,509.9 points.
Traders are still cautious in anticipation of the heavyweight companies’ quarterly results and the US Federal Reserve's policy decision, according to market analyst Gamal Samy.
The main index is likely to continue its sideways performance between 3,484 and 3,580 points till the period of financial disclosures ends, Samy concluded.
