Dubai – Mubasher: UAE equity markets are seen slightly rising on Tuesday as selective purchases will likely keep backing the markets ahead of the US Federal Reserve meeting today, according to analysts.
Market analyst Mohamed Mansour expected the UAE's main markets to adopt a sideways-to-upward trend during the mid-week trading session, fostered by selective purchases of blue-chip and defensive stocks.
In spite of the current downturn and lower liquidity levels, the markets are likely to deliver a positive performance on the long run, said market analysts Ahmed Al-Samer and Mohamed Al-Anzi, assuring that investors, institutional ones in particular, will intensely re-engage in the trading activity by stepping closer to the third quarter's financials and the US Fed decision on key interest rates.
On Monday, the Abu Dhabi Securities Exchange (ADX) erased its early gains on the fall of banks' stocks and the main index fell 0.09% or 3.82 points to reach 4,482.46 points.
Meanwhile, the Dubai Financial Market (DFM) ended the volatile trading session at a rise as the general index rose 0.04% or 1.5 points to reach 3,484.82 points.
