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GCC stock markets trading mixed, looking for direction

Staff Report /Dubai
Filed on April 8, 2020
investors, GCC stock markets, Dubai Financial Market

The investors were looking for direction due to mixed signals with oil prices staying higher.

The GCC stock markets were trading mixed on Wednesday morning as investors were looking for direction after yesterday's strong rally in global equity markets.

Dubai Financial Market was nearly unchanged while Abu Dhabi Securities Exchange was down 1.2 per cent to 3,882 points.

Shuaa Capital, Emirates NBD, Gulf Finance House, Arabtec and Aramex were the top gainers while Gulf Navigation, Ajman Bank, Emaar Development, Amlak Finance and Union Properties were the top losers on the Dubai bourse in the morning trade.

Saudi Arabia, the region's largest stock market, was also down by half a per cent or 39 points to 6,947 points. Boursa Kuwait was also nearly unchanged. Bahrain Bourse slipped 0.17 per cent to 1,311 points.

The investors were looking for direction due to mixed signals with oil prices staying higher while US markets ending lower on Tuesday. Investors are also waiting for outcome of Opec+ meeting set to take place in a couple of days.

-waheedabbas@khaleejtimes.com

 


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