Gulf Markets See Mixed Performances, Energy Prices Affect Sentiment

Today’s markets evaluation onbehalf of Joseph Dahrieh, Managing Principal at Tickmill

25^thMarch 2024

The GCC markets are displaying blended performances, influenced by company earnings and the power markets.

The Saudi inventory market was beneath strain and prolonged yesterday’s decline. Performances have been blended amongst main shares and have been weighed by dividend distributions by Al Rajhi and Riyad Bank. The market might stay uncovered to cost corrections over the quick time period after a collection of beneficial properties however might return to the upside afterward.

The Dubai inventory market was unstable and remained inside its vary for the previous couple of days. Despite its fluctuating efficiency, the Dubai inventory market maintains a usually constructive and bullish outlook, supported by sturdy fundamentals that recommend a possible for additional beneficial properties.

The Abu Dhabi inventory market remained comparatively secure, sustaining its rebound. The rise in oil costs might positively affect the general market sentiment and assist the primary index prolong its beneficial properties.

The Qatari inventory market declined right this moment, affected by a drop within the banking sector, with Qatar National Bank (QNB) and International Islamic Bank main the downturn. The Qatari market might stay uncovered to further corrections particularly as pure fuel costs decline.