By Mahmoud Gamal
Mubasher: GCC equity markets are likely to extend its upward volatile performance on Wednesday in spite of lower liquidity levels amid speculations about higher US interest rates, according to analysts.
Investors are expected to exercise extreme caution today as waiting for Morgan Stanley's rating on the UAE and Qatari weighted stocks as well as the US job creation updates that will contribute to whether the Fed will hike interest rates said market analyst Mahmoud Abu Ziad.
The analyst anticipated the remaining two sessions this week to show whether GCC bourses will see further gains or losses in the coming period.
In spite of selective purchase of some blue-chip and operational stocks, economic analyst Hamoud Al-Shammari clarified that the markets are witnessing a state of immobility and any possible rise in the coming two days is technically one-offs before the end of August and Eid Al-Adha.
Therefore, the present upward jittery performance could be reversed in the coming days until new data come up to stimulate investors' sentiments, capital market analyst Ibrahim Al-Failakawi concluded.
