By: Mahmoud Gamal

Dubai – Mubasher: Some of the blue-chip stocks are likely to boost the UAE stock markets over the coming trading session amid new positive news, including interim financial results of listed-firms such as Emaar Properties.

By the end of Monday’s trading session, the Dubai Financial Market’s (DFM) general index fell to its lowest level in more than a year, while the Abu Dhabi Securities Exchange’s (ADX) general index tumbled 0.90% to 4,800.9 points.

Emaar Properties’ stock is projected to extend gains on the back of robust financial results for the first half of 2018, senior financial analyst at Menacorp Financial Services Issam Kassabieh said.

Moreover, Arabtec Holding revealed this morning it has won an AED 155 million contract for its work on sewerage and drainage infrastructure in Dubai, which will enable the stock to trim the losses it incurred yesterday and move upwardly, Kassabieh indicated.

He expected that pressured on Drake and Scull International’s (DSI) stock will continue as the company achieved weak H1-18 results as expected, which will investors concerned over the company’s future.

He noted that it is difficult to predict the performance of the twin UAE stock markets as it is unclear.

The local markets have seen a bearish trend recently as investors are concerned over the UAE-listed firms’ investments in Turkey, Kassabieh highlighted.

Anticipation is likely to control the local stock markets until the end of Eid Al Adha holiday and when things related to the Turkish crisis become clear, he said.