By: Thabet Shehata

United Arab Emirates – Mubasher: Speculations have dominated UAE markets recently, particularly the Dubai Financial Market (DFM) amid the absence of actual catalysts and institutional investments, an analyst told Mubasher.

The DFM resumed its losses on Monday and concluded the session at decline following pressures from the investment sector, led by DFM Company and Dubai Investments (DI) in addition to Emaar Properties.

On the other hand, the Abu Dhabi Securities Exchange (ADX) continued its rise for the second successive session, backed by the energy and banking sectors.

The DFM’s decline on Monday can be considered profit-taking after unjustified gains on Sunday, said Reda Muslim, partner at Truth Economic Consultancy, adding that the ADX’s hold is considered normal after Sunday’s gains, which were less sharp as compared to the DFM’s.

Speculations continue to strongly control UAE markets especially the DFM which has many and high-trading stocks that are easier to control than the ADX, Muslim told Mubasher.

The DFM is expected to rebound on Tuesday, while the ADX is expected to continue its hold, Muslim said, noting that retreating liquidity amid profit-taking is an indicator of an upcoming quick rebound.

Translated by: Nada Adel Sobhi