By: Mahmoud Gamal
Dubai – Mubasher: The UAE stock exchanges are expected to continue their positive performance on Sunday in line with investors’ tendency to increase positions via blue chips, amid the recovery of oil and global markets, analysts told Mubasher.
Dubai Financial Market’s (DFM) main index may break the level between 3,300 and 3,650 points at which the index has remained in the past two months, capital market analyst Muhannad Dyak said.
Shares prices are still in a narrow range which will affect the decision of purchasing and selling, he added.
DFM’s benchmark index is likely to remain above the level 3,500 points during this week, with a possibility to reach the levels 3,620 and 3,580 points, analyst at a UAE government entity Mansour Al-Shamsy said.
The real estate sector, namely the stock of the market maker Emaar Properties, will boost DFM’s index to hold above 3,500 points, Al-Shamsy noted.
Meanwhile, the main index of Abu Dhabi Securities Exchange (ADX) may break the level 4,480 points to approach 4,500 and 4,550 points in the coming sessions, UAE capital market analyst Muhammad Al-Ahbaby said.
Translated by: Ingy ElSafy
