By: Mahmoud Gamal
Mubasher: Investors in the Gulf region have are setting their eyes on small and medium-sized stocks once more following gains in the Saudi market, ahead of the announcement of the Kingdom's budget for 2017, analysts told Mubasher.
They expected GCC markets to extend their mixed performance on Thursday.
The focus on small and medium-sized stocks resulted in selling pressures for blue chips and declines in some markets, market analyst Nawwaf Al-Ajmi told Mubasher.
On Wednesday, the Saudi Stock Exchange (Tadawul) rose 0.36% or 25.06 points, closing at 7,056.71 points, and nearing the level of 7,100 points.
An improvement in Tadawul has helped investors' "moods", prompting them to seize buying opportunities in regional markets, the analyst added, noting that many portfolios are currently executing selective purchases.
Translated by: Nada Adel Sobhi
