By: Mahmoud Gamal
Mubasher: The GCC bourses are expected to continue their sideways-to-positive performance on Tuesday, amid anticipations of listed blue-chip companies’ financial disclosures for the first half of 2017, analysts told Mubasher.
Investors are focusing their trades on small- and mid-cap stocks, amid profit-taking on blue chips which may push some bourses to decline, capital market analyst Nawaf Al Ajmi said.
Investors' mood is positive now, and they tend to invest in small caps and liquidate blue chips, the analyst noted.
The stocks of companies, which will announce their first-half financials, are expected to rise as they are attracting strong purchases, Al Ajmi noted.
The announced H1-17 results of GCC listed banks led by the Saudi ones are expected to have a positive impact on the bourses, according to technical analyst Hamed Al-Anqari.
Translated by: Julian Nabil
