Global markets have witnessed downward pressure throughout the week as investors continued to offload their positions to shift safe haven to minimize the risk of the overall portfolio.
The pattern seen in Wall Street led the sentiments across the global markets, which continued to deepen the losses during the week.
On the regional front, all of the eight indexes under coverage witnessed similar pattern as they all reported losses during the week. Saudi Arabia was the worst performer during the week with losses of 3.3%, followed by 2.5% in Dubai and 1.8% in Bahrain.
The losses during the week have pushed Dubai and Egypt into the negative territory for the year, while Oman extended the losses on the back of sluggish performance during the week.
Going forward, the trading activity will continue to be dominated by the movement in Wall Street but regional investors will try to find some support from the earnings to take tactical positions in a highly volatile environment.