By Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are likely to deliver negative performance on Monday, weakened by late Q3 financial disclosures, according to analysts.
The delay of Q3 financials is forecast to deepen the markets' losses today after logging AED 6.2 billon losses on huge selling pressures on Sunday, said market analyst Jamal Ajaj, stressing that this delay does not agree with traders' sentiments at the present time.
The Dubai Financial Market (DFM) is currently moving sideways between 3,300 and 3,400 points, technical analyst Salam Saeed told Mubasher, assuring that the announcement of Q3 financials will determine the market’s trend in the coming sessions.
On Sunday, the DFM main index fell 0.99% or 33.10 points to reach 3,301.84 points, its lowest level since 29 June.
Meanwhile, the ADX main index declined 0.73% or 31.58 points to close at 4,315.62 points.
