By: Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are currently seeing mixed performance due to low liquidity and the settlement of financial positions before the end of August and the Eid Al Adha holiday, analysts told Mubasher on Monday.
Analyst Salem Al Newairy said that the absence of positive catalysts alongside the summer holiday are factors that have pushed investors to refrain from increasing liquidity in local markets.
The beginning of September is expected to witness notable activities and new entries by institutions and funds, simultaneously with the announcement of third-quarter results, Al Newairy told Mubasher.
Meanwhile, analyst Hamoud Al-Azmy said that the weakness of liquidity, which recently fell below AED 220 million, will prompt indices to move in a narrow channel during this week’s trading sessions.
The Dubai Financial Market (DFM) is expected to continue its sideways performance and hover around the level of 3,590 points, Al-Azmy added, noting that the Abu Dhabi Securities Exchange (ADX) is likely to target 4,470 points on Monday.
Translated by: Mai Ezz El-Din
