By: Mahmoud Gamal

Dubai – Mubasher: It is expected that UAE bourses will maintain in their steady performance on Wednesday, amid the increase in the foreign investments, despite the fall of global markets and oil, technical analysts have said.

Although UAE bourses retreated, foreign investments tended to purchase, which confirms that shares are at good price earnings ratio (P/E Ratio) levels, Abdullah Al Ali, financial analyst, said.

Net foreign investments reached AED 52.40 million on Tuesday, according to UAE bourses' trading data.

Abu Dhabi Exchange (ADX) data showed that net foreign investments reached AED 20.9 million, while foreign purchases in Dubai Financial Market (DFM) reached AED 31.54 million

 Aldar Properties increased to AED 2.88, while Dubai Islamic Bank (DIB) rose 1% to AED 5.60.

The slight increase witnessed in DFM and being stable above 3,580 points raises the positive signs of the investors, Mohamed Al Zawy, technical analyst, said.

He added that speculations still control the market, especially in the DFM.

Translated by: Sara Ghali