By: Bedour ElRa’ee & Mahmoud Gamal
Dubai- Mubasher: The speculations seen on small caps and medium shares have controlled the UAE markets’ performance on Sunday, with expectations of selective purchases to endorse the UAE stocks on Monday, analysts told Mubasher.
Both Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) are projected to continue the sideways downward performance on Monday, capital market analyst Hassan Al-Zawy said.
The level between 3,650 and 3,500 points is considered a key support level, technical analyst Muhammad Sonbol said, adding that ADX’s support level lies between 4,600 and 4,450 points.
The downward volatility is expected to continue in the coming session amid improvement of liquidity which is pumped into small caps, capital market analyst Tarek Al-Ghanem said.
