By: Mahmoud Gamal
Mubasher: The UAE shares are expected to regain its upward trend during this week in line with a growing turnover as well as the recovery of the US stocks, analysts told Mubasher.
As oil remains above the $55-level, the performance of the UAE stock markets will be endorsed, capital market analyst AlSayed Hassan said.
The UAE markets are expected to remain above important levels in line with the increase of foreign portfolio investments, the analyst added.
This week, Dubai Financial Market (DFM) is likely to see a sideways performance between the levels 3,720 and 3,620 points, he noted.
Abu Dhabi Securities Exchange (ADX) may face key resistance level at 4,680-4,700 points, which in case of breaking will lead to the 4,800-point level, the analyst said, noting that ADX’s main index may reach the levels 4,500 and 4,400 points if it continues to fall.
