By: Mahmoud Gamal
Dubai – Mubasher: The UAE markets are in need of fresh incentives, therefore, news concerning new projects and expansions could attract dormant liquidity and boost the market after the Eid holiday.
At the end of last week, the Abu Dhabi Securities Exchange’s (ADX) general index added 0.72% to 4,906.87 points, while the Dubai Financial Market’s (DFM) lost 4% to 2,803.32 points.
Following the end of the Eid holiday, markets are expected to recover, as companies resume their operations, MindCraft Consultants’ CEO Fadi Al Ghattis commented.
The performance of the UAE markets do not reflect the GCC country’s strong economy, he added.
The ADX has good potentials that could push it up, which include the positive disclosures of most of the banks listed on the market, Al Ghattis said.
Foreign individual and institutional investors were cautious before the beginning of the Eid holiday due to the diplomatic spat between the US and Turkey and the effects thereof on the companies’ investments, senior financial analyst at Mena Corp Issam Kassabieh noted.
However, these concerns may disappear in the coming period in tandem with the end of the disclosure deadline, he remarked.
Translated by: Muhammad Khalid