Stocks may dip ahead of Fed move

The stock market is likely to dip in the early part of the week as investors may take advantage of gains and prompt fund managers to rebalance their respective portfolios. The market’s mid-week performance will depend on whether the Federal Reserve raises its key rates, analysts said.

Victor Felix, equity analyst at AB Capital Securities Inc., said that the expected dip in the local bourse might be attributed to profit-takers, following last week’s strong performance.