UAE Markets Rebound After Large Price Corrections, Investors' Sentiment Could Shift

Please find today's market analysis on behalf of Eman AlAyyaf, CEO of EA Trading. Please don't hesitate to get in touch if you require any further information. 

GCC stock markets closed the week on a decrease after investors were concerned about the impact of the high inflation levels and the tightening US monetary policy. However, the UAE's markets rebounded today along with international markets.

Oil prices continued to increase as the Russian oil import ban is still on the table in Europe. At the same time, OPEC has maintained that oil demand would continue expanding although at a slightly slower pace.

The Dubai stock market rose along with other international markets as it rebounded after large price corrections. The market also found some support from the solid local fundamentals as economic activity continues to grow at a steady pace.

The Abu Dhabi stock market recorded some increases as investors bought the dip. The market recorded significant price corrections in the previous days and was able to recover thanks to the strong oil prices.

The Qatari stock market ended the week in the red following international economic concerns. The market could however find some support from the strong natural gas prices in the coming week.

The Saudi stock market closed the week on a decrease over fears that the US could see an even tighter monetary policy after inflation figures were higher than expected. The market could return to the positive side next week as market sentiment shifts.

The Egyptian stock market closed on a negative trading session as investors' concerns clouded the day. The market remains largely exposed to the developments in Ukraine and to the sentiment of international investors.