By: Mahmoud Gamal
Mubasher: Gulf markets are expected to continue their sideways-to-bullish trend on Wednesday, despite weak liquidity amid oil price decline and anticipation of the US Federal Reserve meeting’s results.
The Federal Open Market Committee will conclude on Wednesday its two-day meeting held to discuss the interest rate and monetary policy.
Gulf investors cautiously await the MSCI market classification review as the MSCI Saudi Arabia index was added to the review list for a potential inclusion in the MSCI emerging markets index, technical analyst Muhannad Erekat said.
The markets suffer from lack of positive catalysts, in addition to negative impacts of external factors, Erekat dded.
GCC markets are currently witnessing selling pressures on blue-chip and operational stocks due to the increase of positions in some stocks by portfolio investors, capital market analyst Hamoud Al-Shammari noted.
Translated by: Julian Nabil
