By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are likely to see positive performance on Monday amid anticipation of how oil and global market will perform, analysts told Mubasher.
Buying appetite for blue chips will likely to push the markets up, financial advisor Hashim Al-Fahmawi said.
New liquidity with estimates of around AED 1.5 billion is expected flow into the Dubai stock market, Al-Fahmawi said. He added that Arabtec Holding, Amlak Finance and Emaar Properties are likely to account for a large share of buying operations.
Dubai market’s main index technically has a chance to rise to 3,471 points, then it may see profit-taking and target 3,800-4,000 points.
The Dubai market managed to rise on Sunday, despite negative news that Emaar Properties’ annual dividends came less than expected.
The UAE local stocks are technically seen bullish, yet investors should be cautious till oil and global markets set a clear trend, technical analyst Thabet Al-Harbi said.
