Dubai – Mubasher: UAE financial markets are forecasted to continue their upside trend on Monday, amid the optimistic sentiment that controls the markets since the beginning of the new year, Eyad EL – Baraky General Manger of Ansari Financial Services.
“The benchmark index of Dubai Financial market (DFM) moves nears the level of 3,700 points which considered important technical zone that may mean the market may witness more gains during the upcoming the period,” added Ansari.
The UAE markets kicked off 2017 on positive zone, which also reflected at the increasing daily markets turnovers, said Ansari noting that he believes the stocks prices would witness more recovery at the first quarter of the year in parallel with the companies’ announcement of their interim financial results.
“ Lately the investment behavior has beat the speculative one, as investors tend to build financial positions at leading stocks within both the insurance and banking sectors,” pointed out Ansari.
Both ADX benchmark and DFM benchmark closed on positive note on Sunday gaining 0.70% and 1.77% respectively.
