The GCC stock markets are likely to see calm trading during the holy month of Ramadan, in line with modest liquidity especially in the Saudi Stock Exchange (Tadawul), capital market analyst Ines Mguidich told Mubasher.
The markets suffer from the lack of catalysts following the end of first-quarter financial disclosures.
The indices will continue to see trades within a narrow range, Mguidich added.
Investors will have a good opportunity to purchase a number of blue chips which reached attractive price levels, Mguidich noted.
The exchanges are expected to move sideways in Ramadan, capital market analyst Mohamed Al Azmi noted.
Blue chips with good financial conditions and operational performance are likely to rebound by the end of Ramadan, Al Azmi added.
By Mahmoud Gamal
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