Friday, 22 September 2023 05:46 GMT

GCC stock markets see volatile trading

(MENAFN- Your Mind Media ) GCC stock markets recorded diverging performances and could see some volatility this week with the expected Federal Reserve meeting ahead.
The Dubai stock market could continue to trade sideways this week as traders remain cautious before the Federal Reserve’s meeting this week. The main index could recover afterward thanks to strong local fundamentals if expectations remain optimistic.
The Abu Dhabi stock market recorded a strong price correction after rebounding to a certain extent. The market remains in an uncertain direction but could find support in local fundamentals and firmer oil prices.
The Qatari stock market rebounded to a certain extent but remained exposed to new price corrections. While strong natural gas and oil prices could support the market, their volatility could weigh on expectations.
The Saudi stock market returned to the downside after a short period of relative stability last week. The market could find support in stronger oil prices overall although slowing economic growth locally could weigh on sentiment.


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