"The UAE markets consolidated Sunday’s gains on Tuesday, ending in the postitive territory yet again, ahead of the beginning of the holy month of Ramadan and the announcement of second quarter corporate earnings later this month.
In Dubai, the DFM index closed 0.15 per cent higher at 2,343.98, while the Abu Dhabi Securities General Index ended 1.01 per cent higher at 3,681.69 as investors built new positions ahead of a potential market rally in the days ahead.
In view of the US Federal Reserve planning to scale back its $85 billion-a-month quantitative easing programme later this year, the regional markets, particularly Dubai and Abu Dhabi’s, are widely tipped to become the beneficiaries of foreign institutional investors pulling funds out of other emerging markets should the region’s geopolitical stability hold, according to market experts."
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