Weekly Market Analysis (Week 46)

The weekly market analysis pages have been updated for trading week 46 (November 6th - November 11th).  Use the links below to view the individual market analysis pages:

Dubai   -   Abu Dhabi  -   Saudi   -   Kuwait   -   Qatar   -   Bahrain   -   Muscat

The table below shows the market outlook based on each study.

A bit more of a mixed bag on the outlook front this week compared to recent weeks.  The outlook for the Kuwait market continues to be bullish across the board.  On the other hand the Muscat market has moved from bullish to bearish this week as has Dubai.

Visit the links above to view the full analysis reports for all GCC markets.

Enjoy.

November Seasonality

In last month's seasonality post I noted that October and November had historically been the weakest performing months of the year for GCC equity markets.  Well, the markets managed to overcome those negative tendencies in October with all GCC indices apart from Saudi rising in value over the month.

Now we head into November, historically the weakest month of the year (see chart below).  Will the markets manage to overcome the odds again and continue their recent strong performance? Well, November hasn't started off that great but there's still a long way to go.

Enjoy.

GCC Indices: YTD Performances

The chart below shows the year-to-date percentage returns for each GCC Index (as of October 31st).  Apart from the DFM General Index all other markets are now positive for the year.  Qatar is clearly the stand out performer, rising 12% so far this year and significantly outperforming the other indices.

Despite being the best performer over the last couple of months the DFM General Index is still the weakest performer year-to-date. At -2.16% it is also the only GCC index that is still down for the year.

The remaining indices have managed to eek out small positive gains.  However, with two months still remaining it's difficult to predict whether 2010 will be a positive or negative year for the regional markets.  Watch this space.

Enjoy.

October Large Cap Monitor

The big large cap winner this month was Du which increased by an impressive 18.60% in October.  The UAE banking sector was also strong with Emirates NBD rising by 15.33% and First Gulf Bank finishing 13.38% higher.

Notable fallers in October were National Bank of Kuwait which lost 9.33% and Saudi Electricity which declined by 6.51%.

Enjoy.

October GCC Index Review

Following on from September's strong performance, October was another good month for GCC equity markets.  Apart from the Saudi Tadawul Index which lost -0.60% over the month, all other markets ended higher in October.

The Abu Dhabi and Dubai markets led the way again with the ADX Index rising 5.35% and the DFM General Index rising 4.80%. 

Volume was also strong in October with all markets except Bahrain seeing increased activity compared with the previous month.

Enjoy.

[ Click to enlarge ]

Weekly Market Winners & Losers

Another good week for GCC equity markets with six of the seven regional indices moving higher. The DFM General Index moves back into pole position with a +1.90% increase over the week.

Kuwait, Saudi and the QE Index also rose by 1% or more this week with Bahrain the only index to fall in value.

Weekly Price Performance

The Muscat market was the biggest volume gainer last week, increasing by 117% from the previous week.

Weekly Volume Performance

(versus previous week's volume)

 Enjoy.

Weekly Market Analysis (Week 45)

The weekly market analysis pages have been updated for trading week 45 (October 30th - November 4th).  Use the links below to view the individual market analysis pages:

Dubai   -   Abu Dhabi  -   Saudi   -   Kuwait   -   Qatar   -   Bahrain   -   Muscat

The table below shows the market outlook based on each study. 

Following the bearish indications last week the Dubai market moves back to a full-on bullish outlook this week.  Meanwhile, Abu Dhabi maintains its across the board bullish outlook.

Saudi is still the weakest of the GCC markets but its outlook is much improved from last week.

Visit the links above to view the full analysis reports for all GCC markets.

Enjoy.