By: Mahmoud Gamal
Mubasher: Foreign investors increased selling of blue chips, pushing Gulf exchanges to decline on Wednesday, in line with the “shock” of Donald Trump's election, analysts told Mubasher.
Most Gulf markets are expected to continue their sideways-to-bearish performance on Thursday.
Traders, especially foreigners, are tending to liquidate the positions they have built in blue chips in the past sessions, after the unexpected wining of Trump who may adopt some policies that will affect oil prices and capital flows into stocks, according to analyst Adnan Al-Delaimi.
On another note, some local and institutional investors in most emerging markets tended on Thursday to buy small and mid caps to make use of their attractive prices, capital market analyst Doaa Farouk told Mubasher.
Most Gulf stocks of the companies which did not announce yet their third-quarter financials may see more accumulations on Thursday, according to capital market analyst Mohammed Al-Anzi.
Translated by: Julian Nabil
