UAE stocks still prone to more profit-taking - Analysts
Dubai – Mubasher: Profit-taking on UAE stock markets is forecast to continue on Monday, according to analysts.
The Dubai Financial Market (DFM) will likely test a new support area at 3,341.43 points, said market analyst Ahmed Ahmed Abd Al-Jalil, assuring that the outlook for the market will not be improved until holding above the 3,480 zone.
Likewise, economic analyst Maher Al-Harbi said the DFM may be more exposed to further decline towards the 3,250-3,185 area this week.
Both analysts expected Monday's trading session to register a low trading volume with focus on some selective stocks as investors wait for world markets' updates today.
The DFM saw a negative performance on Sunday, amid ongoing profit-taking and the main index fell 0.19% or 6.49 points to reach 3,348.14 points.
