Dubai – Mubasher: Mixed and volatile performance is likely to continue during Monday’s trading in the United Arab Emirates’ stock markets, amid conflict between sellers and buyers as shares’ prices reached attractive levels after losses they suffered in the last period, according to analysts.
The Abu Dhabi Securities Exchange (ADX) closed the first session in the week in green, supported by the banks sector.
Meanwhile, the Dubai Financial Market (DFM) closed yesterday with a slight fall, driven by the decline in Emaar, Dubai Investments and Emirates Integrated Telecommunications (DU) shares.
“The main index of ADX tends to decline in light of the absence of internal catalysts and deepening losses in global markets,” markets analyst, Hareb Al Muhairi, told Mubasher.
“The DFM will continue its falling run between the levels of 3,921 and 3,845 points,” he added.
Al Muhairi expected that some shares are likely to perform positively with near dividends distributions, including Dubai Islamic Bank, Damac, Air Arabia and Aldar.
Technical analyst, Amir Mansour, suggested that the UAE’s stocks still subject to the vagaries of oil prices and developments in global economy.
