By: Mahmoud Gamal
Mubasher: The GCC stock markets are expected to see purchases of blue chips by local and foreign institutions on Wednesday, in line with the approach of first-quarter financials, and stability of global stocks and oil prices, analysts told Mubasher.
The bourses are likely to continue their sideways-to-bullish performance.
Financial announcements for the first quarter of 2017 are expected to support the GCC exchanges in the coming sessions, Ashraf Hussein told Mubasher.
The stability of the Saudi Stock Exchange (Tadawul) above 6,900 points may push it further to test 7,200-7,300 points.
The Dubai Financial Market (DFM) is expected to continue its rise to 3,600 and 4,000 points, Hussein said, adding that the Abu Dhabi Securities Exchange (ADX) is likely to grow to 4,800-5,000 points.
Translated by: Julian Nabil
