Correction could lead to the rise of new waves
GCC markets profit-taking wave led by real estate and banks
GCC markets last week has seen a wave of corrections had led to declining indicators, the market most affected by the loss of 6.12 per cent, followed by Abu Dhabi, down 1.91 percent, followed by the Kuwaiti market down 0.77 percent and the country slid 0.74 percent, and finally the Bahraini market by 0.29 percent amid expectations of sustained profit and said and in anticipation of bullish new waves. Repair operations led the UAE stock market declined last week to Abu Dhabi and Dubai, where Dubai market index ended the week down 6.12 percent at 4864.03 points in its worst weekly loss for the index since the beginning of the world, the Abu Dhabi index dropped 1.91 percent.
The Dubai market operations saw profit widely after the announcement of the stock to be joining MSCI emerging equity where most of those stock sales strong pressure throughout the trading week. Real estate sector index closed down by 8.93 percent, with a sharp decline of stocks ' reconstruction ' and ' arabtec which fell by 7.75 percent to 13.37 per cent respectively. The banks index jumped 4.45 percent with Dubai Islamic Bank shares up 7.79 percent, Emirates NBD slightly too around 0.2 percent. In Abu Dhabi, real estate is the largest motor market downturn during trading last week with gains by banks in recent sessions of the week aggravated the loss indicator. Real estate sector index ended trading down by 7.57 percent, with declining shares of Aldar real estate by 7.4 per cent, with declining shares, brightening up 13.26 percent. The banking index slipped slightly at 0.91 per cent.
In Kuwait a record price index declined by 0.77 per cent per week, to close at 7346.83 points, with the market driven transverse in recent weeks in light of the absence of economic stimuli, and faces resistance at 7388 price index point and be able to overcome the movement will give a boost to the height. In the Bahrain market index 0.29 percent last week to close at level 1, 459.45 points, amid expectations of continued profit taking and test the level of the «1400» point this week, with the index rises of 1300 points to around 1,500 points, with traders began to take profits. In the Doha market index retreated 0.74 percent in the trading week to close at 13008.16 points and dropped country for stock-market value of 9.7 billion to 724.62 billion compared with 734.34 billion in market value the previous week. After the profit that most Gulf markets, Qatar and the United Arab Emirates after the rating by Morgan Stanley to upgrade both to emerging markets.