By: Mahmoud Gamal

Dubai – Mubasher: The UAE stock markets are likely to see a positive performance on Wednesday, spurred by good news of some companies, led by Dana Gas and Drake and Scull International (DSI) which regained investors’ confidence, analysts told Mubasher.

Portfolio investors’ heavy purchases of blue chips are likely to help the markets continue their uptrend on Wednesday, according to Gulf market analyst Amer Al Mohannadi.

The markets saw a recovery in the recent sessions on the back of new positive catalysts, with expectations to maintain their rise until the end of June and beginning of first-half financial disclosures, Al Mohannadi said.

Traders tended to focus on stocks with positive news like Emaar Properties, DSI, and Dana Gas, financial analyst Hossam Al Husseini told Mubasher.

The markets will be backed by trades on speculative and dual-listed stocks, as well as liquidity recovery, Al Husseini noted.

Buying momentum of local stocks is expected to continue in the coming sessions, amid increased accumulation by institutional and foreign investors, Al Husseini added.

Translated by: Julian Nabil