By: Mahmoud Gamal

Dubai – Mubasher: Traders in the UAE stock markets are waiting for the remaining first-quarter financial announcements of active companies, especially in the real estate sector, analysts told Mubasher.

These companies include Emaar Properties, Damac Properties, Eshraq Properties, and Drake and Scull International (DSI).

The markets’ performance will be mainly affected this week by the quarterly financial statements to be posted by real estate developers, topped by Emaar and Eshraq, technical analyst Ramy Al Sedany told Mubasher.

If the real estate sector posts overall positive results or at least better than the figures recorded in the previous quarter, the UAE indices will be able to break important resistance levels, and thus, push investors towards buying, Al Sedany added.

The Dubai Financial Market (DFM) sees an important resistance level above 3,480 points, he said, adding that breaking above 3,620 points will give an entry signal for new traders.

The markets are expected to see a positive performance on Sunday on the back of higher oil prices, capital market analyst Basel Abu Teima said.

Translated by: Julian Nabil