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The GCC stock markets rose after a period of uncertainty supported by yesterday’s US PPI data, which came in lower than expected, signaling further cooling of inflation.
This has helped investors become more confident about a potential rate cut in September. This development has encouraged risk-taking and improved sentiment in the equity markets.
Today’s CPI data will also further impact market sentiment.
The Saudi stock market was higher for the second day, continuing its rebound where most sectors were improving, like the Pharma and Healthcare sectors. The Dubai stock market was higher today although it remains uncertain to a certain extent. The Abu Dhabi stock market was positive yet volatile today after two sessions in the red.
The Qatari stock market was also higher today, extending its price range to the upside.
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