Dubai – Mubasher: The UAE bourses are expected to continue seeing downward moves on Monday as the indices are likely to face a correction phase, analysts told Mubasher.

Iyad Aref, CEO of NamaaZone, said that the indices of the UAE bourses may tend to decline during today’s session, in line with targeting strong support levels to resume buying again.

The Dubai Financial Market (DFM) is moving towards a purchasing zone at the level of 3,330 points, Aref highlighted.

The Dubai Financial Market General Index (DFMGI) may see a main support at the level of 3,370 points during the current week, he added.

The UAE markets are anticipating new liquidity ratios after the completion of Emaar Development’s initial public offering (IPO), Aref noted.