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Today's market analysis on behalf of Mazen Salhab Chief Market Strategist MENA in BDSwiss
(MENAFN- Your Mind Media ) 5th September 2024
The Saudi stock market traded near the 12300 points level and recorded some volatility. Sectors’ performance was mixed while oil prices were volatile. The geopolitical tensions will continue as a factor that can weigh on the market performance.
Stock markets in the UAE were positive. The Dubai stock market continued its solid momentum as geopolitical tensions had a more limited impact while the focus remained on the economic fundamentals. Most sectors were moving higher. The Abu Dhabi stock market was volatile while geopolitical tensions and oil price movements weighed on the market.
The Egyptian stock market rose today, attempting to break through the 31,200 level. This upward movement was supported by positive market sentiment, which outweighed the impact of ongoing geopolitical tensions. Market optimism was bolstered by government efforts to finalize and implement a package of tax incentives, which could play a crucial role in attracting both domestic and foreign investments.
The Saudi stock market traded near the 12300 points level and recorded some volatility. Sectors’ performance was mixed while oil prices were volatile. The geopolitical tensions will continue as a factor that can weigh on the market performance.
Stock markets in the UAE were positive. The Dubai stock market continued its solid momentum as geopolitical tensions had a more limited impact while the focus remained on the economic fundamentals. Most sectors were moving higher. The Abu Dhabi stock market was volatile while geopolitical tensions and oil price movements weighed on the market.
The Egyptian stock market rose today, attempting to break through the 31,200 level. This upward movement was supported by positive market sentiment, which outweighed the impact of ongoing geopolitical tensions. Market optimism was bolstered by government efforts to finalize and implement a package of tax incentives, which could play a crucial role in attracting both domestic and foreign investments.
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