08/01/2015
"Dubai" jump 4.4% amid doubts in the continuation of the rally
Gulf markets pick up breath after a strong sell-off
Most Gulf stock markets rebounded yesterday after sharp losses suffered earlier this week due to the resumption of oil prices falling, but they ignored yesterday's decline in oil prices, rose amid doubts constantly wave of ascension with the continuing decline in oil prices.
The benchmark Dubai market, which suffered greater losses than others, because they areunstableand many of the investorsdependon high 4.4 percent at 3,600 points in the middle of a strong recovery in trading volumes Alkarod-. The index fell 8.6 percent earlier this week. Emaar Propertiesclimbed 5.4 per cent, while "Arabtec" Holding shares jumped 8.9 per cent building.
The decline in global Brent crude by more than 10 per cent this week, its lowest level since the spring of 2009, and fell a short time below $ 50 a barrel yesterday. Although some investors felt that the GCC stock is witnessing selling in an exaggerated manner, and returned to the market as buyers even temporarily.
He said the enemy portfolio manager at The National Investor in Abu Dhabi, "I think that what is happening now is due to the oversold that we have seen in the past few days." Affect of falling oil prices certainly in the region, but taking prices into account, the stock traded already in multiples of cheapprofit."He added that investors need some time to get used to the vagaries of oil after three years of stability and high prices.
Some say that the market's recovery may be short-lived. He Sanyalak Manibando research manager at the Abu Dhabi National Securities, "I do not think that this index to change direction. It's just a simple recovery under continuous downward trend."
Rose Market General Index of Abu Dhabi 2.6 per cent, and the Qatar Exchange index 0.7 per cent, and the index of the Kuwait Stock 0.4 per cent. Hui "consort" Kuwaiti Holding shares daily maximum 10 per cent after shareholders decided to delist the company's shares on the stock exchange; Because stock performance was disappointing.
In Bahrain, 0.1 per cent of the index fell to 1425 points, the MSM index fell 0.4 percent to 6204 points.
