Abu Dhabi: Both the Dubai Financial Market (DFM) index and the Abu Dhabi Securities Exchange (ADX) general index moved up slowly on Tuesday, ending the day with slight changes.

The DFM index rose 0.02 per cent to reach 4,626.05 per cent, while the ADX general index gained 0.09 per cent to reach 4,898.34.

The DFM index fluctuated throughout the day to reach a minimum of nearly 4,560 at 12.30pm. However, that was followed by a gradual increase till the index closed at 4,626.05.

Arabtec remained the main powerhouse for DFM, accounting for 35 per cent of the total market trade value, and topping the list in terms of value. Stocks for the real estate developer bounced back slightly after its 2.49 per cent drop on Monday, to mark a 1.86 per cent increase on Tuesday. Its share prices reached Dh4.38.

Meanwhile, Emaar fell 0.48 per cent, DFM share prices dropped 1.05 per cent, and Dubai Investments Co. shed 0.95 per cent. However, Ajman Bank and Union Properties each increase 0.44 per cent and 0.55 per cent respectively.

Saleem Khokhar, head of equities at the National Bank of Abu Dhabi’s asset management group, attributed the slow movement in markets to the fact that many are waiting for the US Federal Reserve’s decision on interest rates.

“What’s happening is we’re waiting for the Fed to make the decision on interest rates margins, so the markets are treading water, so now there’s an anticipation of clarity on how the Fed will move forward. Europe has a similar situation whereby the data out of Europe is quite weak, and we’re waiting to see if there are further steps to be taken,” he said.

Khokhar added that positive results from various companies for the third quarter of this year are adding a boost to their stock performance.

“I’m fairly comfortable with the outlook [for markets]. I think even the IMF (International Monetary Fund) have come through with their guidance for 2014 and 2015 growth in the GCC region. They’re saying it’s going to be between 4.5 and six per cent, so I’m very comfortable with that GDP (Gross Domestic Product) growth,” he said.

He added that government spending on infrastructure, regardless of oil prices, should keep the economy in good shape.

In Abu Dhabi, Green Crescent Insurance Company topped the gainers’ list with a 12.36 per cent increased, followed by Eshraq Properties with 4.59 per cent, Sharjah Cement and Industrial Development Co. with 2.54 per cent, and Sudan Telecommunication Co. with 2.22 per cent.

Of the 32 stocks traded on DFM, 13 went down, 10 went up, and nine remained unchanged. Of the 22 stocks traded on ADX, 11 declined, nine advanced, and two remained flat.