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Abu Dhabi: Thursday brought a glimmer of hope to investors at the Abu Dhabi Securities Exchange amid the global market crisis that has overshadowed the local markets this week.
"We were overcome by joy and started clapping when the prices of our shares went up. The whole market looks promising," said Saleh Al Amiri, an Emirati investor.
Seated closest to the screens at the market hall with few of his friends, Al Amiri and his colleagues shared the joy by clapping every time the prices went up.
Othman Zarzour, a Syrian project manager, said that he lost close to Dh170,000 out of the Dh1 million he invested over three years.
"It seems like a rollercoaster ride. I am waiting to see where the market is heading. The fall has been surprising to me because not all of these companies have international assets," he said.
With the markets closing on a high note, investors, some of whom have had life-changing losses, now have hopes of putting their lives back together.
A Jordanian investor, a dentist who owns a clinic, said: "Today [Thursday] is definitely a better day". He has put Dh550,000 in shares of which he lost more than Dh500,000. "I m trying hard not to reveal how it has affected my family", he said, adding that his family has been insistent that he quit dealing in shares.
"Twice I took loans to invest. Once I gained and once I had a very close call. But this time my losses crossed all limits."
"It may take some time for all of us who have lost money to recuperate. But if God wills it shouldn't take long," said an investor.
Omar Al Yafaei, an Emirati, said: "I lost close to Dh1 million two years ago. But now, after seeing the sliding prices I have come again to buy." He said that he will be careful not to repeat past mistakes.
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