By Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are expected to witness a stable mid-week trading session on foreign investors' selective buying for blue-chip and defensive stocks, according to analysts.
Market analysts Hassan Al-Zawi and Mohamed Al-'Azmi said the UAE markets are forecasted to keep giving a mixed performance on Tuesday, but building new positions on blue-chip and defensive stocks likely to result in a stable trading session.
This mixed performance is mainly attributed to low liquidity due to speculators' control over the trading mood, Al-Zawi indicated. However, Al-'Azmi believes that liquidity will likely increase the closer traders are stepping towards the disclosure of Q3 financial results.
In the coming two sessions, UAE markets are likely to adopt a sideways trend with a bearish bias amid low liquidity levels until the 26-28 September OPEC meeting's outcome is revealed, economic analyst Tarek Al-Ghnam concluded.
