By: Mahmoud Gamal
Mubasher: The Gulf markets’ traders are looking at the small and medium stocks again, amid the rise of the Saudi Stock Exchange (Tadawul) to its highest level in a year followed by the upward trend of the global markets, according to analysts.
Analysts expected that GCC markets will continue in their upward fluctuating performance on Wednesday.
Advanced Petrochemicals Company in Tadwul added 1.1% on Wednesday, while the National Industrialization Company (Tasnee) increased 1.5%.
In the UAE markets, Abu Dhabi Commercial Bank advanced 3.55%, while Union Properties hiked 5.05%
Most of the domestic portfolio now adhere to the purchasing trend between the GCC stocks which reached to attractive technical levels, technical analyst, Nawaf Al Ajamy, told Mubasher.
Tadawul and Qatar Stock Exchange (QE) ended Tuesday adding 0.7% and 0.5% to 7,155 points and 9,978 points, respectively.
Dubai Financial Market (DFM) and Abu Dhabi Exchange (ADX) also increased 1.3% each to 3,452 points and 4,356 points, respectively.
The Kuwait Stock Exchange (KSE), the Bahrain Bourse and the Muscat Securities Market (MSM) levelled up 0.3%, 0.8% and 0.7% to 5,565 points, 1,182 points and 5,655 points, respectively.
Translated by: Sara Ghali
