Mubasher TV
Contact Us Advertising   العربية

Investors to focus on UAE banks stocks – Analysts

Investors to focus on UAE banks stocks – Analysts
Traders at Dubai's bourse (Photo Credit: Arabianeye-Reuters)

By: Mahmoud Gamal

Mubasher: Investors in the UAE exchanges have started to trade on banks stocks by the end of Tuesday's trading session, analysts told Mubasher.

The UAE stock markets are expected to see a sideways-to-bullish performance on Wednesday, in line with the end of the first-quarter financial disclosure period, analysts added.

Portfolio investors’ tendency to build new positions in banks stocks may help the UAE bourses to recover on Wednesday, capital market analyst Ahmed Ismail said.

Some portfolio investors are buying shares in blue chip stocks like Emaar Properties, Dubai Investment, Etisalat, and Abu Dhabi Commercial Bank (ADCB).

The markets have stocks that are still attractive as they stand at good price levels, Ismail noted.

Blue chip stocks will see cautious accumulations, in line with the approach of the summer vacation period, capital market analyst Hareb Omar said.

The Dubai Financial Market (DFM) is expected to continue its rise to 3,400 points, with a target to reach 3,430 points, financial analyst Alaa Sultan told Mubasher.

Commenting on the Abu Dhabi Securities Exchange (ADX), he said the market may near the level of 4,600 points on the back of selective purchases by some institutional investors.

Translated by: Julian Nabil