By: Mahmoud Gamal

Dubai – Mubasher: The UAE markets are expected to be stable at their current levels on Tuesday, amid the rise of foreign and institutional investments in some stocks despite volatile global stocks and lower oil prices, according to analysts.

Foreign investments are increasing despite the approach of UAE indexes near the levels of profit-taking, reflecting that some stocks have high P/E ratios, capital market analyst Salem Al Naoary told Mubasher.

Net foreign and gulf purchases amounted to more than AED 43.68 million on Tuesday, while net buying of portofolio investors stood at AED 114.7 million.

Speculations still control trades amid investors’ anticipation of annual financial announcement of major firms, the analyst added.

Momentum carried on liquidity since the beginning of this year is expected to continue, in addition to the continuity of institutional and foreign purchases to make use of low-priced stocks, Al Naoary noted.

Technical positive outlook for Dubai’s bourse still exists despite its decline on Tuesday, capital market analyst Hassan Al Zawy noted.

Translated by: Julian Nabil