By: Mahmoud Gamal
Mubasher: most of the GCC stock markets will continue to have a speculative upward trend on Thursday, despite the mixed performance seen in global markets, analysts told Mubasher.
Investors are targeting blue chips and medium shares; thus, penny stocks will face selling pressures, said analyst Ghada Al-Shaya.
Most of the foreign portfolio investments are still tending to make purchases amid its trading of GCC stocks which reached attractive technical price levels, the analyst added.
Meanwhile, the GCC stock exchanges tend to hold at their current levels, backed by the rising oil prices as well as the portfolio investments’ tendency to increase stock positions despite the volatile trend, said analyst Muhammad Sultan.
Translated by: Ingy ElSafy
