By Mahmoud Gamal
Mubasher: GCC equity markets are forecast to bounce back on Thursday after the US Federal Reserve left key interest rates unchanged, according to analysts.
Market analysts Ahmed Abdulgaleel and Mohamed Al-Shmymry said most GCC stocks are likely to deliver a positive performance on the US Fed's decision to hold policy rates, namely the Saudi Stock Exchange that still targets the mark of 6,200 points.
Both expected regional markets to achieve on the short run a gaining streak that could extend till the end of the next week amid a speculative rise in oil prices ahead of OPEC's informal meeting this month.
On the mid-run, technical indicators reveal that regional markets are to witness more profit-takings, the analysts concluded.
