By: Mahmoud Gamal
Dubai-Mubasher: The UAE equities are likely to continue their winning streak on Tuesday amid oil price recovery, analysts told Mubasher.
The UAE stocks still witness heavy buying despite their successive rises, analysts added.
Market Indexes reached levels that enable the markets to continue their uptrend, Hashim Al-Fahmawi, analyst said, adding that stocks are moving in the right path, yet that does not prevent the profit-taking to occur for one session, he added.
Dubai market’s main index, or DFMGI, is expected to continue its way up to 3,468 points. It will confirm a positive performance to target 4,000 points if it managed to close above 3,251 points this week after seeing profit-taking, Al-Fahmawi noted.
Brent crude rise above $40 will restore liquidity in blue-chip stocks, especially Arabtec Holding and Emaar Properties, technical analyst Thabet Al-Harbi said.
Translated by: Julian Nabil
