By: Mahmoud Gamal
Dubai – Mubasher: The UAE exchanges are expected to see accumulation of stocks on Tuesday, analysts told Mubasher.
Institutional and foreign investors are likely to buy stocks with good operational performance despite the volatility of global bourses ahead of the Federal Reserve policy meeting on Wednesday.
Most UAE blue chips are expected to see selective purchases on Tuesday after they reached attractive price levels, amid expectations of positive annual dividends, capital market analyst Mohammed Al Ahbabi told Mubasher.
Low price levels of some stocks will encourage entry of new liquidity, Al Ahbabi added.
Dubai’s main index, the DFMGI, is likely to continue its rise to reach 3,700 points, technical analyst Hamid Al Shammari told Mubasher.
Traders should adopt the “wait and see” approach till the results of Fed meeting are announced as raising US interest rates may have a negative impact on UAE stocks.
Translated by: Julian Nabil
