By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are expected to continue their volatile trend amid the struggle ensued between buyers and sellers as stocks reached attractive price levels, analysts told Mubasher.
Dubai Financial Market (DFM) closed at a decline on Monday, pressured by leading stocks in the banks and real estate sectors.
Abu Dhabi Securities Exchange (ADX) managed to rise for the eighth session in a row on Monday, backed by Dana Gas and Etisalat.
The markets are likely to see sideways movement, senior technical analyst Hamoud Al-Azmi said, adding that some selective stocks are expected to rebound after seeing purchases before the end of 2015.
The stock markets are still subject to the vagaries of oil and global economy amid the absence of internal catalysts and the decline of institutional investments, paving the way for speculations to be in control, said Ehab Rashad, Managing Director, Direct Broker for Securities –Mubasher.
He noted that the UAE markets are expected to witness some movements to rearrange portfolios through changing positions in the coming period and focusing on leading stocks which are likely to see active trading after the announcement of annual financials and dividends.
Translated by: Julian Nabil
