March Seasonality — Seasonality — GCC Market Analytics
March Seasonality | GCC Market Analytics

Sunday, 6 March 2011

March Seasonality

Historically, March has been good month for GCC stock markets.  However, that was also the case for February but last month definitely didn't conform to historical tendencies.

The chart below shows the average daily percentage change for each GCC market during each calendar month.

As you can see, the average daily percentage change during March has been positive for all markets except Bahrain.  However, with the continuing political and social unrest in the region I wouldn't place too much weight in seasonal effects at the moment.


P.S.  It should be noted that we're dealing with a very small data set for this analysis.  My data only goes back as far as 2004 for GCC equity markets so there have only been seven prior instances of each calendar month. It's hard to draw any concrete conclusions from such a small data set.