Almasa Capital Weekly Report: united Arab Emirates markets will be trading sideways in the coming time frame

Four out of eight territorial markets shut in the most recent week of June, and the rest saw thin exchanging volumes as speculators were dormant because of Eid occasion. With the finish of the time of Ramadan and Eid occasion, financial specialists will come back to generally higher volume volumes on the foundation of macroeconomic news of nations combined with potential updates of particular stocks.

As indicated by Almasa Capital specialists, the positive effect of the Saudi capital market posting on MSCI and the conceivable improvement of a large portion of the recorded stocks will keep on being bolstered by higher oil costs above $ 48 a barrel a week ago in the wake of achieving a low of $ 44.71 a barrel before Eid occasion.

Egypt ascended before the week's over on the back of past declarations about raising fuel and gaseous petrol costs by over 40% as a stage in its endeavors to acquire an IMF advance that was concurred ahead of time and will positively affect the economy in the long haul. Concerning Qatar, the endeavors of past neighborhood financial specialists to help the Qatari market have not seen positive outcomes. The market will stay under weight until the point that the current geopolitical strains are settled. The DSM20 list shut the primary portion of 2017 down 13.5%.

As indicated by the Almasa Capital report, the UAE markets will exchange the not so distant future as there is no macroeconomic and microeconomic news to move the files after the conceivable posting of the remaking arm. Amid the primary portion of 2017, Kuwait remained the best entertainer among its provincial associates, ascending by + 17.7%, trailed by Egypt by + 8.5%, Bahrain by + 7.3% and Saudi Arabia + 3.0%. Qatar was the most exceedingly awful entertainer in the principal half of 2017, around - 13.5%, trailed by Oman by - 11.5%, trailed by Dubai by - 3.9% and Abu Dhabi by - 2.7%.

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,392.00 -0.30% 1.58% -3.93%
Abu Dhabi (ADSMI) 4,425.40 -0.14% -0.04% -2.66%
Saudi (SASEIDX) 7,425.72 8.87% 8.07% 2.99%
Kuwait (KWSE) 6,762.82 -0.14% -0.33% 17.65%
Egypt (EGX30) 13,395.81 -0.16% 0.42% 8.51%
Qatar (DSM) 9,030.44 -2.46% -8.80% -13.47%
Bahrain (BHSEIDX) 1,310.04 -0.22% -0.74% 7.34%
Oman (MSM30) 5,118.31 -2.48% -5.60% -11.49%
TR GCC (Reuters) 191.35 -0.31% -3.84% -5.55%
DJ MENA 525.62 0.05% 2.94% 5.56%