By: Mahmoud Gamal
Dubai-Mubasher: The UAE markets are expected to rise on Monday, as positions of some blue chips are likely to increase in line with the recovery of oil prices, analysts told Mubasher.
Dubai Financial Market’s (DFM) benchmark index ended Sunday’s session at a level that may boost the market’s performance on Monday to rise to 3,500 points, said capital market analyst Hassan Al-Hosny.
The analyst expected the positive performance of DFM’s main index to continue and exceed the levels of 3,550 and 3,600 points over this week.
Meanwhile, the rise of local share resulted from speculations rather than trading activity that targets medium and long-term investments, said CEO of Think Extreme Fadi El-Ghattis.
The UAE stock markets witnessed new liquidity that was pumped in the past sessions; this confirms the investment portfolio’s goal to increase positions of local shares, said capital market analyst Mohamad Al-Azmi.
The trading activity in Abu Dhabi Securities Exchange (ADX) showed a fair improvement, unlike DFM’s trading, said analyst Jamal Ajjaj, who noted that the market is in anticipation for H1 financial results to be announced in the coming days.
Translated by: Ingy ElSafy
