By Mahmoud Gamal

Mubasher: UAE stock markets are likely to make a sideways-to-upward performance on Wednesday, coupled with the recovery of world markets and oil prices.

On Tuesday, the trading activity seemed so solid that it may reverse the markets downturn on Wednesday, namely in Dubai Financial market as traders focused on building new positions in the real estate and banking sectors, said market analyst Jamal Ajaj.

DFM general index retreated 0.04% or 1.46 points to reach 3,533.83 points, while ADX main index advanced 0.55% or 24.85 points to reach 4,535.40 points.

The investors' appetite for the banking sector's stocks is forecasted to continue and to reverse DFM stocks' red marks, Ajaj added.  

Market analyst Jamal Abdel Hamid expected DFM general index to target 3,550 points and then the mark of 3,560 points, which will likely open the door for more rises.

Investors are advised to cautiously resume trading until the benchmark index holds above 3,530 points.