By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are likely to continue their positive performance on Thursday, amid the strong rise of US stocks and tendency of some portfolio traders to increase their investments, analysts told Mubasher.
Despite the approach of UAE stocks to the levels of profit-taking, foreign investors are directing their investments towards buying, capital market analyst Salem Al Naoary said.
Net foreign investments amounted to AED 33.5 million worth of purchases on Wednesday, while net sales of foreign portfolios reached AED 66 million.
The UAE markets declined on Wednesday due to quick sales of small-cap stocks, Al Naoary explained.
Speculations still control trades, amid anticipation of major companies’ annual financials, the analyst added.
Momentum carried on liquidity since the beginning of this year is expected to continue, in addition to the continuity of institutional and foreign purchases to make use of low-priced stocks, Al Naoary noted.
Traders should increase their positions in stocks with high liquidity, amid the record rises of US stocks, capital market analyst Abdullah Al Ali added.
Translated by: Julian Nabil
