By Mahmoud Gamal

Dubai – Mubasher: Foreign investors are forecast to keep fostering the UAE equity markets with their strong appetite for building new positions, namely after the US Federal Reserve kept key interest rates on hold, according to analysts.

Market analyst Harb Omar said foreign investors are showing interest in buying new stocks that have not seen significant rises previously and whose P/E ratios have ticked attractive marks. This could indicate that institutional investors are likely to actively get back on the trading track.

Institutions pumped investments in Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) worth AED 11.6 million and AED 40.6 million, respectively. Foreign investors were net buyers by AED 45.11 million, according to official data.

Fawaz Al-K'abi, technical analyst, expected DFM to deliver a positive performance and to reach the mark of 3,480, which will open the door for moving above 3,500 points once again.

The DFM general index slid 0.26% or 9.10 points to stand at 446.08 points yesterday.