By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are likely to bring their gains back gradually amid companies’ financial announcements and cash dividends for 2015, in addition to high expectations for an oil price recovery.
Many traders await the companies’ annual financial results that will give an edge to their appetite for investments, financial advisor Mohammed Shamimri told Mubasher.
He added that the markets saw thin liquidity in the past period due to investors’ caution on instable economic and geopolitical conditions that affected the Gulf markets in 2015.
Capital market analyst Wadah Al Taha expected the markets to regain its upward trend gradually in 2016 and liquidity to recover.
Leading stocks are expected to return to their strong price levels as Emaar’s stock is likely to reach AED 8 by the end of second quarter of 2016, technical analyst Amir Mansour said, adding that Arabtec Holding and Deyaar Development are projected to reach AED 3 and AED 1, respectively.
If the local markets started to rise as of the second half of 2016, the stocks of Damac Properties, Shuaa Capital and National Bank of Abu Dhabi are likely to reach AED 4, AED 0.75 and AED 9, respectively.
