By: Mahmoud Gamal
Dubai – Mubasher: Investors in the UAE stock markets are expected to be anxious on Monday and throughout the rest of this week, in line with the approach of listed companies’ first-quarter financials, analysts told Mubasher.
The markets’ decline on Sunday was mainly attributed to a number of reasons like the lukewarm performance of blue chips, technical analyst Wissam Al Azhari told Mubasher.
The Dubai Financial Market (DFM) may target an important resistance at 3,575 points, then 3,620 points, Al Azhari explained.
The bourses’ biggest challenge in the coming sessions will be to attract more liquidity to maintain last week’s gains.
Keeping liquidity at current levels will encourage portfolio investors and investment funds to proceed with the policy of cumulative purchases of operating stocks, Al Azhari noted.
The markets are ready for an uptrend on the medium- and long-term, but they still need sufficient liquidity to be pumped in blue chips to push the main indices higher, capital market analyst Mohamed Al Azmi said.
Translated by: Julian Nabil
