By: Mahmoud Gamal
Mubasher: The GCC stock markets’ investors are expected to keep turning to attractive price levels and increasing positions in banks and real estate stocks on Thursday, which will maintain the GCC bourses’ indices, analysts told Mubasher.
“Investors are turning to the stocks of small enterprises during the current week’s trading sessions, especially in the Saudi Stock Exchange (Tadawul),” analyst Ahmed Ismael said.
Ismael referred to the purchasing power that turned to some of the insurance sector’s stocks, topped by Saudi Indian Company for Cooperative Insurance (Wafa), which rose 1.6%, pointing out that local investors are currently interested in the investment funds’ stocks.
He added that some portfolios are concerned about increasing their positions in Al-Rajhi Bank’s stock, which went up in the previous session by 1.7%, obtaining new purchasing recommendations by global research firms.
The leading stocks, especially the real estate sector’s stocks in the UAE and Kuwait markets, are likely to see more transactions during Thursday’s session, technical analyst Dayem Sultan told Mubasher.
He added that retail and local investors have shown new purchasing power in the UAE markets as it has blue chips at attractive levels.
Translated by: Mai Ezz El-Din
