By Mahmoud Gamal
Dubai – Mubasher: Foreign selective purchases of UAE blue-chip and defensive stocks are likely to foster the equity markets Monday in spite of concerns over the downturn of oil prices and global markets, according to analysts.
Market analysts Hassan Al-Zawi and Tarek Al-Ghnam said UAE markets are forecasted to deliver a mixed performance on Monday with increasing foreign appetite for buying blue-chip and defensive stocks that pared Abu Dhabi Securities Exchange's losses yesterday.
On Sunday, foreign investors were net buyers by AED 30 million, according to data by Dubai and Abu Dhabi markets.
Moreover, speculators are likely to keep having the upper hand over the trading activity today amid a lack of positive data and shaky oil prices that weaken the markets' turnover.
Al-Ghnam expected UAE bourses' jittery performance to continue all over the remaining sessions of this week ahead the Fed's decision over US interest rates that will probably shape the coming trading trend.
