Dubai – Mubasher: UAE stock markets are likely to remain profitmaking-prone during the mid-week trading session, according to analysts.
Blue-chip stocks are facing massive selling pressures due to a wave of profit-taking that is forecast to send major indices lower on Tuesday amid shaky liquidity level, decreasing buying appetite and quick speculations, said market analyst Ramy Kasab.
Investors are expected to adopt a cautious trading behavior while waiting for the rest of major companies' Q3 disclosures, Kasab added, clarifying that speculations on Donald Trump's economic policies, along with a possible hike in interest rates this year, are guiding foreigners to the selling side.
The Dubai Financial Market (DFM) is expected to decline towards the 3,330-320 zone today, market analyst Mohamed Al-Harby concluded.
