By: Mahmoud Gamal
Mubasher: The UAE stock markets are expected to continue their downward volatile performance on Wednesday amid lack of new catalysts that add positivity to the markets and attract liquidity, analysts told Mubasher.
Investors at the gulf markets are likely to be cautious on both Wednesday and Thursday, as Eid Al-Adha break, which is approaching, may last for a whole week in some markets, capital market analyst Mahmoud Abo-Zeid said.
Despite the signs of anticipation for stocks, both the Saudi and UAE stock markets are witnessing purchases for medium stocks and blue chips, capital market analyst Hamoud Al-Shimry noted.
The GCC markets may technically head to sideways path that tends to fall in the coming period, until new catalysts are able to determine the markets’ direction, analyst Ibrahim Al-Filkawy said.
Translated by: Ingy ElSafy
