By: Mahmoud Gamal
Dubai – Mubasher: The UAE markets are expected to continue their rise due to positive speculations on some stocks in line with the beginning of real estate firms’ third-quarter financials, analysts told Mubasher.
The performance of technical indexes is not enough to help the UAE markets maintain their rise and break above important resistance levels, so they need some positive catalysts which may be the results of US elections and the announcement of the remaining third-quarter results, analysts added.
The UAE markets closed in the green, with the entry of new liquidity worth AED 901 million on the back of investments pumped in blue chips, capital market analyst Adnan Mansour said.
Abu Dhabi’s benchmark index rose 1.39% to 4,347.90 points on Tuesday, while Dubai bourse went up 3,306.72 points.
Foreign traders focused on the stocks of RAK Poperties, Arabtec Holding, Emaar Properties and Deyaar Development, so net investments in Dubai and Abu Dhabi bourses amounted to AED 49.8 million and AED 31.4 million respectively, according to official data.
Speculators are expected to focus on stocks with low prices especially in the insurance sector, in addition to some of the Kuwaiti and Bahraini stocks, capital market analyst Sultan Saeed said.
Investors await the remaining third-quarter results which will have a significant impact on trades, technical analyst Abdul Qadir Al Samer.
Translated by: Julian Nabil
