Today’s markets analysis on
25th March 2024
The GCC markets are displaying mixed performances, influenced by corporate earnings and the energy markets.
The Saudi stock market was under pressure and extended yesterday’s decline. Performances were mixed among major stocks and were weighed by dividend distributions by Al Rajhi and Riyad Bank. The market could remain exposed to price corrections over the short term after a series of gains but could return to the upside afterward.
The Dubai stock market was volatile and remained within its range for the last few days. Despite its fluctuating performance, the Dubai stock market maintains a generally positive and bullish outlook, supported by strong fundamentals that suggest a potential for further gains.
The Abu Dhabi stock market remained relatively stable, maintaining its rebound. The rise in oil prices could positively influence the overall market sentiment and help the main index extend its gains.
The Qatari stock market declined today, affected by a drop in the banking sector, with Qatar National Bank (QNB) and International Islamic Bank leading the downturn. The Qatari market could remain exposed to additional corrections in particular as natural gas prices decline.