Directionless UAE bourses perplexes traders in short-term:
Traders in the UAE bourse have been stuck with positions and don’t know what to do: ie to book losses or to stay in the market.
The Dubai Financial Market General index has been falling since the past three years, registering a fall of 50 per cent from the high of more than 5,000 in the last 36 months. The DFM index closed 0.22 per cent lower at 2,526.02 on Thursday. Traded value has also fallen from a daily average of Dh2-3 billion in 2016 to Dh100-200 million now, indicating declining interest from institutions.
Traders are still stuck with their positions in shares like Gulf Finance House (GFH) or Emaar Properties among others. GFH used to trade Dh2.27 in 2017 and share prices have fallen to Dh0.85. Emaar Properties shares have fallen from a high of Dh9 to less than Dh5 now.
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