Today market analysis on behalf of Ayham Sallah Market analyst
Date
4/18/2024 5:55:50 AM
(MENAFN- Editorial) 17th April 2024
GCC stock markets remained under some pressure today as traders reacted to geopolitical concerns, changing monetary policy expectations as well as sliding oil prices.
The Saudi stock market was volatile today after a strong decline yesterday and could continue to face downside risks. Geopolitical concerns and oil prices could continue to weigh on sentiment. The banking sector saw mixed performances with some banks rebounding while others like Saudi National Bank declined for a fourth day in a row.
In Dubai, the stock market stabilized to a certain extent after its drop yesterday as traders continued to monitor geopolitical developments. Banks and other sectors saw mixed performances while the real estate sector rebounded.
The Abu Dhabi stock market also faced some losses, moving below previous lows, and could remain exposed to the downside. Traders could remain cautious in the face of current geopolitical conditions and uncertainty in oil markets.
Meanwhile, the Qatari stock market closed without much change and recorded mixed performances across its sectors, reflecting a sense of uncertainty in the market.
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