By: Mahmoud Gamal
Mubasher: The GCC stock markets are expected to see a positive performance on Monday, amid investors’ tendency to invest in small caps, analysts told Mubasher.
The GCC bourses still look forward to seeing gains on Monday, amid expectations that oil prices will continue rising after moving above $53 per barrel (pb), capital market analyst Fahd Al Rajaan told Mubasher.
Higher oil prices will push some portfolio investors to invest in risky stocks, pushing some indices to rise, he added.
The Saudi Stock Exchange (Tadawul) targets to reach 7,285-7,240 points, Al Rajaan said.
Buying momentum is expected to continue especially in Boursa Kuwait after the end of financial disclosures, technical analyst Nawaf Al Awn said.
Boursa Kuwait targets to reach 6,984, then 7,091 points, if the main index does not break above 6,850 points, Al Awn added.
Liquidity is still weak as investors are anticipating the performance of global stocks following the Fed's annual economic policy conference in Jackson Hole to be held from 24 to 26 August, according to capital market analyst Faisal Al Mu'ali.
Dubai’s bourse is expected to maintain its stability above 3,560 points despite selling pressures, according to Hesham Hassan, head of technical analysis at Acumen for Securities.
Translated by: Julian Nabil
