By: Mahmoud Gamal
Dubai – Mubasher: The UAE markets are expected to hold are their current levels on Tuesday, amid increased foreign and institutional investments, in addition to the rise of global stocks before US elections.
Despite the volatile performance of UAE equities, foreign investors are increasing their investment, showing that some stocks reached good price-earnings ratio (P/E Ratio), according to market analyst Fawzi Abdullah.
Dubai bourse managed to rise on Monday on the back of foreign and institutional investments, while Abu Dhabi’s stock market marginally fall due to quick profit-taking, the analyst noted.
Net foreign and institutional investments in the UAE markets exceeded AED 50 million on Monday, according to data on the bourses’ websites.
Speculations still control the markets’ trades as investors are awaiting the rest of third-quarter financial announcements and the results of US elections, Abdullah added.
Small investors should be cautious in the current period as oil and global stock markets are on crossroads ahead of the 2016 US elections which will be held on Tuesday, 8 November, capital market analyst Hassan Al-Zawi told Mubasher.
Translated by: Julian Nabil
