By: Mahmoud Gamal
Mubasher: The GCC stock markets are likely see positive performance on Thursday amid a recovery in global bourses, analysts told Mubasher.
Technical analyst, Hareb Omar, told Mubasher stability will return to the GCC bourses when oil prices maintain above $55-56 levels, which is expected to take place in the upcoming period.
“The rise in global markets will drive investors to increase positions on stocks low-level stocks, especially in the promising markets like the UAE,” Omar said.
Meanwhile, capital market analyst, Hamoud Al-Shammari, advised investors not to increase positions on GCC stocks until the disclosure of the financial statements for the fourth quarter of 2016.
On Tuesday, The Saudi Stock Exchange (Tadawul) fell 0.2% to 7,241 points and the Dubai Financial Market (DFM) declined 0.6% to 3,520 points, while the Abu Dhabi Securities Exchange (ADX) rose 0.1% to 4,472 points.
The Qatar Stock Exchange (QSE) advanced yesterday by 0.3% to 10,336 points, the Kuwait Stock Exchange (KSE) increased 0.1% to 5,753 points the Muscat Securities Market (MSM) levelled up 0.1% to 5,765 points and the Bahrain Bourse grew 0.2% to 1,213 points.
Translated by: Elwy el-Manzalawy
