DUBAI, Oct 8 (Reuters) - Egypt's bourse may resume rising on Wednesday after dipping on pre-holiday profit-taking at the end of last week, while weak demand for Zain Bahrain's initial public offer indicates the Manama bourse may remain range-bound in low volumes.

Egypt's main index hit a six-year closing high of 9,811 points on Sept. 30, boosted by ambitious state investment plans, fresh deals with foreign energy firms and positive corporate news.

But it retreated in the two following sessions and closed at 9,727 points last Thursday as investors across the Middle East prepared for the Muslim holiday of Eid al-Adha.

Falling oil prices, which will reduce pressure on Egypt's balance of payments, may now encourage fresh buying of stocks. Brent crude sank $1.18 to $90.93 a barrel, its lowest level in more than two years, in Asia on Wednesday.

Also, a purchasing managers survey released on Tuesday showed business activity inEgypt expanded at a near-record pace in September, with a nascent economic recovery encouraging companies to hire for the first time in nearly 2-1/2 years.

Bahrain's bourse also reopens on Wednesday after its Eid break, but with a less positive backdrop. In the first IPO on the market since 2010, telecommunications firm Zain Bahrain sold just over a third of the offer to the public, reflecting weak demand.

The kingdom's bourse suffers from poor liquidity, with trading activity the lowest in the Gulf region this year. Its benchmark has traded within a narrow range around 1,460 points for eight weeks.

The Saudi Arabian, Kuwait, Qatar and Oman markets remain closed for Eid and will reopen next week.

The global market environment is weak; Asian stocks fell on Wednesday morning because of worries about waning global growth. On Tuesday, the Dow fell 1.6 percent, while the S&P 500 lost 1.51 percent and the Nasdaq 1.56 percent.