By: Mahmoud Gamal
Dubai-Mubasher: The UAE stock markets are expected to continue their positive performance on Monday amid selective purchase of stocks with attractive price levels, analysts told Mubasher.
Dubai Financial Market (DFM) saw the biggest one-day gains in one year on Sunday amid the positive performance of leading stocks topped by Emaar Properties, Arabtec Holding and Dubai Islamic Bank, backed by the rise of oil prices and global markets.
Abu Dhabi Securities Exchange (ADX) managed also to advance on Sunday, backed by the semi-collective rise of sectors led by real estate and energy.
Blue-chip stocks may witness active trading before the disclosure of financial announcement due to speculations amid price oil recovery, said Talal Al-Khoury, chairman of Al-Awael Holding.
He added that such major stocks will see quick profit-taking after financial announcements.
Technical analyst Hareb Al Muhairi told Mubasher that Dubai-listed blue chips especially du, Emaar Properties, Emaar Malls Group, Air Arabia, Dubai Islamic Bank and Dubai Investments reached attractive levels for long-term investors.
Translated by Julian Nabil
