GCC bourses expected to rise slightly Wednesday – Analysts

GCC bourses expected to rise slightly Wednesday – Analysts
The positive outlook on the economy aviation segment has attracted new portfolios

By: Mahmoud Gamal

Mubasher: The majority of the Gulf stock markets are expected to slightly rise on Wednesday in line with the portfolios’ trend to increase positions in penny stocks, analysts told Mubasher.

Traders at the GCC markets, namely foreign investors, have started to build new purchasing positions in small caps and medium stocks, capital market analyst Ali Al Zahany said.

The positive outlook on the economy aviation segment has attracted new portfolios in line with the improvement in income statements disclosed by the sector’s companies, namely Air Arabia.

The Saudi Stock Exchange (Tadawul) is forecast to continue its upward performance on Wednesday and Thursday, capital market analyst Nawaf Al Anzi said.

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Source: Mubasher Exclusive

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