Home Business News Mixed movements across GCC stock markets, Fed ahead

Mixed movements across GCC stock markets, Fed ahead

20th Mar 24 12:22 pm

The GCC stock markets exhibited mixed performance with relatively narrow movements, as the approaching FOMC meeting results influenced market sentiment and fueled some caution.

The Saudi stock market was slightly lower today after a positive performance yesterday, weighed by sliding oil prices while the banking sector was predominantly negative.

Although it could remain exposed to some price correction risks, the Saudi stock market remained bullish overall.

The Dubai stock market experienced an uptick today, driven by the real estate sector which saw key stocks such as Emaar Properties, Emaar Developments, and Deyaar Developments record positive performances. Although the market faces a period of uncertainty, the overall outlook remains bullish, underpinned by solid fundamentals.

The Abu Dhabi stock market mirrored Dubai’s performance, ending the day slightly higher although it remains near its lowest levels for the year. However, the market’s rebound could be at risk if oil prices continue to slide.

The Qatari stock market saw a slight decline but remained within the range recorded during the last few days. Leading stocks, particularly in the banking sector, displayed mixed performances. The Qatari market could remain exposed to the volatility in energy markets.

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