By: Mahmoud Gamal
Mubasher: The GCC stock markets are forecast to see further volatility on Wednesday as investors tend to exchange stocks positions, in line with the fall of global and oil markets, analysts told Mubasher.
As oil breaks the level $40, the gulf markets’ upward performance will be threatened especially with the current low liquidity, capital market analyst Basel Abo-Teima said.
The coming sessions are expected to see speculative rebounds coinciding with the market’s downward performance, as the oil market is still in the correction stage, the analyst added.
Investors should start accumulating stocks and form small purchase positions through several stages when oil prices approach the levels $35 and $33, Abo-Teima noted.
Rapid speculations are becoming the controlling trend among the GCC markets, economic analyst Fouad Darwish said.
The decline of global markets will push investors to lighten their positions of shares which have reached their goals, especially in promising markets like the UAE which contains good opportunities in the current time, portfolio director Mohamad Al-Harbi said.
Translated by: Ingy ElSafy
