By: Mahmoud Gamal
Dubai – Mubasher: Portfolio investors’ selective purchases of mid caps and defensive stocks will support the UAE markets’ stability on Wednesday, ahead of Federal Reserve’s meeting results.
The UAE markets are expected to continue their sideways-to-bearish trend on Wednesday, amid accumulation of shares by portfolio investors, market analyst Hassan Al-Zawi told Mubasher.
Buying small-cap stocks trimmed the bourses’ losses on Tuesday, the analyst noted.
Although the UAE exchanges fell in the past session on profit-taking, some mid-cap and defensive stocks, topped by GFH Financial Group, rose.
Current price levels of stocks are attractive for many investors, financial analyst Mohammed Al Shammari said, adding that institutional investment is expected to flow into the markets in the coming weeks.
Translated by: Julian Nabil
