By: Mahmoud Gamal
Dubai – Mubasher: The UAE markets are expected to continue witnessing profit-taking on Thursday, following the US interest rate rise.
Dubai’s main gauge, the DFMGI, fell 1.15% on Wednesday, while the main index of Abu Dhabi’s bourse declined 0.94%.
The UAE stocks are still trading at levels that probably will push the markets to continue their decline, especially amid the decline of liquidity on the back of low trading activity, capital market analyst Mohamed Al Sawy told Mubasher.
The Emirates’ stock markets will witness a calm trading session and low liquidity on Thursday, with speculations expected to be seen on some selective stocks, financial analyst Ahmed Abdel Gelil said.
The general index of Dubai’s bourse will be trading between 3,513 and 3,550 points, capital market analyst Saleh Al Durzi said.
Stability of Abu Dhabi’s main index above 4,490 points is good, especially amid the volatile performance of most stocks, Al Durzi added.
Translated by: Julian Nabil
