The month of June-06 saw mixed trends in the GCC region. The markets remained range-bound with the exception of Saudi Arabia which notched an impressive monthly gain of 17.4%in June-06. All the GCC markets reported YTD losses at the end of 1H-2006 indicating the selling pressure the markets experienced, following the strong growth reported in the last few years.
However, the investors who were adopting a cautious investment strategy in the last couple of months, might realign their portfolios after analyzing the upcoming quarterly results. This might lead to an increased trading activity on the GCC bourses in the coming months. The strong correction seen in the first half of the year has provided investors with a good buying opportunity in select stocks which provides a case of careful stock selection and accumulation. (Global)
