By Mahmoud Gamal
Dubai – Mubasher: UAE stock markets are likely to extend their positive performance on Wednesday amid foreigners' increasing interest in blue-chip stocks, according to analysts.
UAE markets' downfall in the previous sessions pushed stock quotes, namely the real estate and banking stocks, towards attractive buying levels, said market analyst Abdullah Al-Ali, pointing out that more foreign investments confirm the stocks' good P/E ratios.
Yesterday, the UAE markets saw AED 21.5 million foreign investments.
In spite of Tuesday's slight improvement, speculations are still controlling the trading activity, namely in the Dubai Financial Market (DFM), capital market analyst Hassan Al-Zawi noted.
The DFM main index is likely to rise towards 3,360 points if breaking above the resistance of 3,320 points, the analyst noted.
