By: Mahmoud Gamal

Dubai-Mubasher: UAE indexes are expected to continue their positive performance on Wednesday, amid expectations of increasing positions in blue-chip stocks, and recovery of oil and global markets, analysts told Mubasher.

Dubai market closed on Tuesday at a level which is likely to push its index higher to 3,280 points, capital market analyst Gamal Abdel Hamid told Mubasher.

If the market manages to maintain its gains till the end of this week, the DFMGI will break 3,300-3,350 points next week, Abdel Hamid added.

New liquidity entered the UAE markets recently, reflecting the tendency of portfolio investors to increase their positions in local stocks, capital market analyst Mohamed Al Azmi explained.

Closure of Abu Dhabi’s market above 4,200 points will support its general index to approach 4,250-4,300 points, Hesham Al Harbi noted.

Translated by: Julian Nabil