By: Mahmoud Gamal
Mubasher: The GCC stock markets are expected to maintain their volatile performance this week, amid anticipations of further quarterly financials and news regarding possible mergers between listed firms, analysts told Mubasher.
The bourses did not witness any major changes in the first week of May and moved at a narrow range, as expected in previous reports, analysts added.
The markets’ narrow range is mainly attributed to the announcement of first-quarter financials, which pushed some traders to be cautious and focus on stocks of the companies with good financial positions, financial analyst Ines Mguidich stated.
Traders are still awaiting the remaining financial announcements especially by listed blue-chip companies, which will set the market’s trend in the coming period, Mguidich added.
The current period is good for investors to make accumulations, especially in the Dubai and Saudi markets, the analyst explained.
The markets’ current low liquidity will push small traders to be cautious and not increase their positions, capital market analyst Mohamed Al Azmi said.
Translated by: Julian Nabil
