The speculative demand had an impact on telecom stocks on the stock market of the United Arab Emirates. Last week, the telecommunications sector has been in the center of investors' attention, which led to a significant increase in active stocks on the stock exchange.
Investors showed a high interest in the shares of the largest telecommunications companies in the country, which contributed to the growth of speculative trading on the exchange. The Etisalat company was favored with increased demand in the market, increasing its capitalization by several percentage points.
"We see that investors are increasingly focusing on the telecommunications sector, especially on Etisalat shares, and this leads to an increase in speculative trades on the market," reported a financial analyst.
Increased demand for the stocks of telecommunications companies indicates a general bullish sentiment on the exchange, despite some volatility in other sectors. Despite some minor declines in the indices, demand for Etisalat stocks and those of other companies in the sector continues to grow.
