By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are expected to see a negative performance in the short-term, amid the absence of catalysts and a state of anxiety that is controlling investors, analysts told Mubasher.
Dubai Financial Market (DFM) saw a negative performance on Sunday to end the winning streak it witnessed for three sessions, amid profit-taking on Dubai Islamic Bank (DIB) and Emaar Properties.
Abu Dhabi Securities Exchange (ADX) closed in the red on Sunday, weighed by the collective decline of leading stocks.
The UAE markets are expected to continue their downward trend amid traders’ anticipation for the companies’ annual financials and declining liquidity, said Mahmoud Abou Zeid, a financial analyst at Namaa Consulting.
Foreign investments were weighed by the state of anxiety that is controlling investors, reflected in the low turnover witnessed on Sunday.
Investors have fears that some companies may continue their negative performance in the coming period, in additiong to lower oil prices , noted senior technical analyst Hamoud Al-Azmi.
Al-Azmi added that low liquidity pushes investors to repeat profit-taking on stocks with limited margins, leading to the markets’ fluctuations.
