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Investors likely to trade on small-, mid-cap stocks

Investors likely to trade on small-, mid-cap stocks
Trader at Abu Dhabi's bourse (Photo credit: Arabianeye - Reuters)

By: Mahmoud Gamal

Mubasher: Most investors are expected to trade on GCC small- and mid-cap stocks with attractive price levels on Thursday, analysts told Mubasher.

The GCC markets saw a volatile performance on Wednesday; the Saudi Stock Exchange (Tadawul) rose on good first-quarter financial announcements, whereas the UAE bourses declined.

Most exchanges are expected to maintain their sideways-to-bullish performance on Thursday, amid anticipations of the performance of US stocks which are seeing fluctuations as US President Donald Trump is making changes to his staff, analysts said.

Trump decided to fire FBI director James Comey on Wednesday, the US administration announced.

Investors’ general sentiment is positive, affected by the uptrend of Tadawul in the past period, pushing them to invest in small caps and liquidate blue chips, capital market analyst Nawaf Al Ajmi told Mubasher.

Stocks of companies which will announce their first-quarter results soon are expected to rise on possible strong purchases, Al Ajmi added.

Translated by: Julian Nabil