By: Mahmoud Gamal
Mubasher: A positive performance is foreseen in Tuesday’s trading session, in line with the recovery of oil prices and global markets as well as the expectations for the UK to keep its membership in the Eurozone, analysts told Mubasher.
The views have changed over the Brexit vote which may shrink the cautious trend in the regional markets, said capital market analyst Mansour Al-Dhufairi, expecting more liquidity to be pumped after the voting.
The profit taking activity is projected to remain in some of the GCC stock markets on Tuesday, as some portfolio investments continue to focus on blue chips, mainly in the banks and real estate sectors, said capital market analyst Nawaf Al-Ajami.
The GCC markets still need professional traders, despite the revive in the region, the analyst said, advising small investors to hold their trading activity until an upward trend is clear and backed by stronger catalysts, including the approach of Q2 financials’ announcement.
Translated by: Ingy ElSafy
