Dubai – Mubasher: Profit-taking on UAE's stock markets is likely to continue on Monday amid some major firms' second quarter disclosures, lower oil prices, and mixed global markets, analysts told Mubasher.

The closing of Dubai Financial Market on Sunday is considered a negative end as the benchmark index should maintain the mark of 3,520 points in order to avoid moving down to the area ranging from 3,477 points and 3,411 points, said market analyst Mansour Al-Shamsi.

The bourse will likely end the trading week on a negative note if holding below the mark of 3,507 points today, Al-Shamsi added.

The DFMGI fell 0.76% or 26.83 points to reach 3,517.38 points.

Market analyst Fawzy Abdullah expected the index to continue its decline to 3,480 points, advising traders not to increase their positions until the oil market set a clear trend and leading companies announce their second-quarter financials.