By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock markets are expected to see more accumulation by institutional and foreign investors, following the positive first-half financial announcements by Etisalat and First Abu Dhabi Bank.
The UAE stocks are likely to witness selective purchases as they reached attractive price levels, amid a positive outlook for blue-chip companies’ H1-17 results, UAE markets analyst Mohamed Al Ahbabi noted.
Foreign investors built on Wednesday some positions in blue chips like Emaar Properties, Dubai Islamic Bank (DIB), and Dubai Investments, the analyst added.
Small caps, especially in the insurance sector, are witnessing slight profit-taking, Al Ahbabi noted.
Dubai’s stocks are expected to see a positive performance in the coming period, amid anticipations of some H1-17 results by major companies like Emaar, technical analyst Thabet Al Harby noted.
The DFMGI is expected to rise and approach 3,550 points, Al Harby said.
Investors are expected to increase their positions in stocks with good operational performance in the coming sessions, Al Harby concluded.
