Today market analysis on behalf of Hani Abuagla Senior Market Analyst at XTB MENA
(MENAFN- Your Mind media ) The UAE stock markets experienced mixed performances today. Dubai's stock market showed volatility after it reached an important resistance level. Despite this, both its weekly and monthly performances remain positive. In contrast, Abu Dhabi's stock market rebounded today, influenced by a recovery in the Financial sector. However, its weekly and monthly performances are negative. Additionally, the UAE financial markets saw changes in the MSCI index, with Parkin and Spinneys being added to the small-cap index, and ADNOC Drilling joining the global benchmark indices.
The Saudi stock market concluded its week on a negative note, experiencing volatility throughout. In contrast, the monthly performance was slightly positive, marked by strong fluctuations. The market sentiment was influenced by fluctuating oil prices and geopolitical tensions.
The Qatari stock market had a positive week, buoyed by a new LNG deal with Kuwait. However, it faced some pressures due to regional factors.
The Egyptian stock market continued its strong momentum this week, marking the fourth consecutive month of gains. Market sentiment was bolstered by signals of economic recovery from the IMF and a new oil discovery in the Western Desert, positioning the market for further advances.
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