UAE equity markets to see more weakness before stabilising | GulfNews.com:
"The UAE equity markets may witness some weakness before stabilising next week as margin calls unwind after the main index shed more than 7 per cent in the previous two sessions, industry participants said.
The Dubai Financial Market General Index closed 2.23 per cent lower at 4,186.11, after losing 4.74 per cent on Sunday weighed by falling crude oil.
“There could be selling pressure on Thursday. Many margin calls have been initiated in this market after the drop on Sunday and Monday. The process of margin calls to unwind will take a few sessions. Market will be able to absorb selling pressure for atleast 3-4 sessions before we can stabilise,” Mohammad Ali Yasin, managing director at NBAD Securities told Gulf News."
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