By: Mahmoud Gamal
Mubasher: The GCC stock markets are expected to see a negative performance on Thursday due to the fall of oil prices, amid investors’ tendency to trade on non-oil small caps, analysts told Mubasher.
Oil prices are expected to continue declining until the end of next week; thus, leading traders to exit oil stocks, especially those listed on the Saudi and Kuwaiti bourses, capital market analyst Mahmoud Diab noted.
The possible rise of oil prices above $55 per barrel will have a positive impact on the markets, Diab added.
Investors are anticipating some new catalysts like remaining first-half results, especially of real estate companies, capital market analyst Mohamed Al Azmi said.
Traders should quickly speculate on attractive stocks, capital market analyst Faisal Al Mu'ali recommended.
Translated by: Julian Nabil