GCC stocks likely to rise on oil price stability – Analysts

GCC stocks likely to rise on oil price stability – Analysts
Traders at GCC bourses

By: Mahmoud Gamal 

Mubasher: The GCC stocks this week are expected to be spurred by oil price stability and investors’ tendency to improve monthly closings, analysts told Mubasher.

Stability of oil prices above $52 per barrel and the trades curve of portfolio investors are expected to help stocks see slight gains in the last week of August, analyst Mohamed Al Azmi said.

Trading volume and liquidity are expected to maintain their low levels in the coming period, affected by calm trades in the summer vacation which will end by 31 August, Al Azmi noted.

Purchases are expected to increase this week ahead of the Eid Al Adha holiday, he said.

On Thursday, most GCC bourses saw a negative performance due to profit-taking.

Investors should increase their positions until the Eid vacation ends and third-quarter financials, capital market analyst Hamoud Al Shammari noted.

Related topics
Source: Mubasher Exclusive

Comments