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GCC Stocks Face Caution and OPEC Meeting Concerns
(MENAFN- Your Mind Media ) GCC stock markets saw limited changes for the most part as traders monitor developments in energy markets ahead of OPEC’s meeting as well as US economic data releases.
The Dubai stock market continued to trend horizontally with no significant movement outside of its current range. The main index has been recording gradually declining volatility since the beginning of this month and continues to hit a ceiling. The market could remain at risk in the absence of a strong catalyst.
The Abu Dhabi stock market continued to see some volatility and remained on a slight downtrend for the past few days after a rebound. The market could find some support while oil prices stabilize to a certain extent as traders brace for the delayed OPEC meeting.
The Qatari stock market extended its price corrections while most major stocks were seeing negative performances. Energy markets could continue to weigh on the market with prices on a downtrend.
The Saudi stock market remained stable near levels seen during the last few trading sessions. Traders could remain cautious ahead of the OPEC meeting.
The Dubai stock market continued to trend horizontally with no significant movement outside of its current range. The main index has been recording gradually declining volatility since the beginning of this month and continues to hit a ceiling. The market could remain at risk in the absence of a strong catalyst.
The Abu Dhabi stock market continued to see some volatility and remained on a slight downtrend for the past few days after a rebound. The market could find some support while oil prices stabilize to a certain extent as traders brace for the delayed OPEC meeting.
The Qatari stock market extended its price corrections while most major stocks were seeing negative performances. Energy markets could continue to weigh on the market with prices on a downtrend.
The Saudi stock market remained stable near levels seen during the last few trading sessions. Traders could remain cautious ahead of the OPEC meeting.
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