By: Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are still in an upward trend, but they need more catalysts and liquidity to support this positive performance, analyst told Mubasher.
The Dubai Financial Market (DFM) leapt on Monday 0.8% to 3,552 points and the Abu Dhabi Securities Exchange (ADX) rose 0.4% to 4,456 points with total gains of AED 3.25 billion.
Capital market analyst, Tarek Ghanam, said that yesterday’s closing levels may push the two bourses towards further rises, amid expectations of higher institutional investments.
“Monday’s turnover moved primarily toward small and medium-sized stocks, with speculations targeting blue chips” technical analyst, Amir Al Mansour, said.
“The markets saw lower trading activity as some global markets were closed for Christmas celebrations,” he added.
Translated by: Elwy el-Manzalawy
