By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to hold at their current levels on Wednesday, amid increased investments by Arab and institutional investors.
Arab and local investments are increasing although the UAE bourses are approaching the profit-taking phase, reflecting that some stocks have good price-earnings ratios, according to capital market analyst Salem Al Nuwairi.
The UAE markets managed to hold on Tuesday, backed by quick transactions over small caps, especially in the insurance sector, Al Nuwairi added.
Investors are anticipating the remaining first-half financial disclosures of banks and some blue-chip companies, like Emaar Properties and Etisalat, Al Nuwairi noted.
Local stocks are expected to continue seeing buying momentum in the coming sessions, amid Arab and foreign investors’ tendency to accumulate stocks, financial analyst Hossam Al Husseini said.
Translated by: Julian Nabil
