(MENAFN- Your Mind Media ) 21st March 2024
The GCC stock markets were mostly positive today, benefiting from the FOMC's dovish comments yesterday, which favored equities.
The Saudi stock market was moving higher today following yesterday's correction, ending the week with another positive performance. The Banking sector led the gains, with leading stocks like Al Rajhi and Alinma seeing strong increases. The Saudi stock market remained bullish and continued its upward trend due to solid corporate earnings and strong projections for this year.
The Dubai stock market was more volatile today although it remained within a range and could be exposed to profit-taking. Leading stocks were seeing mixed performances while Parkin made its trading debut today with a 30% jump as investors flocked to the stock after an oversubscribed IPO.
The Abu Dhabi stock market was higher today, continuing its rebound from this year’s low. Leading stocks, mostly from the banking sector, such as Abu Dhabi Commercial Bank and First Abu Dhabi Bank, were higher. The Abu Dhabi stock market could benefit from an improvement in oil prices while it remained exposed to potential price corrections.
The Qatari stock market closed today without much change and recorded a slightly negative week. The market remained exposed to weaker natural gas prices.
MENAFN24032024006667014463ID1108014781
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.