By: Mahmoud Gamal
Mubasher: GCC blue chips lure foreign investors Mubasher: The Gulf blue chips have attracted foreign investments, thus pushing the market higher on Thursday, analysts told Mubasher.
Foreign investors are currently tending to build new positions in blue chips, especially as the end of financials period approaches, according to capital market analyst Nawf Al Etab.
The GCC bourses will see accumulation of heavyweight stocks which reached good levels of price-earnings ratio, Adnan Al-Dulaimi, general manager of Mena Financial and Economic Consultation, said.
On another note, capital markets analyst Maged Al-Jabali expected the stock markets to exhibit a sideways-to-bearish trend on the back of lower oil prices.
Volatility of global exchanges will push investors to be “temporarily cautious”, Al-Jabali said, adding that speculators will continue to increase their positions in attractive low-priced stocks.
Translated by: Julian Nabil
