By: Mahmoud Gamal

Dubai – Mubasher: The UAE stock markets are expected to move sideways-to declining during Monday’s trading session, amid liquidity's drop, awaiting new catalysts especially the financial results for the third quarter of 2017, and the initial public offerings (IPOs), analysts told Mubasher.

The decline of liquidity led the UAE markets to instability case, member of the National Advisory Board of Chartered Institute for Securities &Investments (CISI) Wadah Al-Taha said.

Some portfolios will start using digital currencies which may push the markets’ liquidity down, Al-Taha added.

The UAE markets indices are still fluctuating and moving sideways, in line with large decrease in turnover, technical analyst Ahmed Al Attar said.

The low liquidity in the markets likely attributed to IPOs announcements, Al Attar added.

The DFM closed Sunday down from the support level of 3,625 points, and it may tumble during the current week trading activities, aiming the levels between 3,560 and 3,590 points.

The Abu Dhabi Securities Exchange (ADX) needs to consolidate above 4,420 points, which makes up the upwards trend, and in case of exceeding it aims to reach the level between 4,355 and 4,373 points on short-term.

Translated by: Mohamed Hesham Azab.