By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to lose their trading momentum on Thursday following the recent rises, in line with the fall of oil prices as well as the mixed performance seen at global markets, analysts told Mubasher.
The overall performance of the UAE markets is still positive; however, the markets have reached a new level at which gains may slow down, said analyst Tareq Al-Sawy.
Al-Sawy clarified that investors are being cautious as they await the interest rates decision which will be taken by the Bank of Englan on Thursday, as well as the remaining announcements of Q2 financials for the blue chips.
Meanwhile, today’s session is projected to remain calm amid expectations of liquidity decrease and selective movement for some shares in order to speculate, said capital market analyst Salam Saied.
Dubai Financial Market (DFM) may experience a key level at 3,385 points which should be kept unbroken, technical analyst Ahmad Al-Dhahuri said, adding that DFM’s index should reach above 3,400 points to enter the positive zone and reach 3,575 points.
Translated by: Ingy ElSafy
