19 January 2011
JEDDAH: Saudi Arabia's equity market continued to attract the most attention among the Gulf's markets, accounting for 46 percent of research notes and 39 percent of companies covered within the region.
Of the 243 research notes, "Buy" calls (48 percent of research notes) continued to dominate over "Hold" (41 percent) and "Sell" (11 percent), indicating a positive sentiment in GCC markets, Kuwait Financial Center (Markaz) latest statistics said.
The market capitalization of researched stocks in Saudi Arabia accounted for 83 percent of the total domestic market capitalization. Oman (79 percent), Qatar (66 percent), Kuwait (57 percent), the UAE (55 percent) and Bahrain (36 percent) followed in that order.
The UAE was the most preferred equity market in 4Q10 as reflected by the fact that 56 percent of the reports were assigned a "Buy" rating.
Saudi Arabia accounted for maximum "Buy" as well as "Sell" ratings. Moreover, the proportion of "Buy" ratings in the Kingdom increased to 53 percent in 4Q10 from 50 percent in 3Q10. However, the share of "Buy" ratings in Qatar fell to 52 percent in 4Q10 from 100 percent in 3Q10. A third of the research notes covering Bahrain fetched "Sell" ratings, higher than other GCC markets.
Etihad Etisalat Co. continued to remain the most tracked stock during the quarter, with eight research notes. Saudi Arabian Mining Co. was also covered by an equal number.
Saudi Telecom Co. followed with six notes, and Almarai Co. and Qatar National Bank with five notes each. All research notes on Etihad Etisalat Co. and five on Saudi Arabian Mining Co were assigned a "Buy" rating.
Saudi International Petrochemical Co. too received five "Buy" ratings, while Saudi Basic Industries Corporation and Saudi Telecom Co. received four each.
The banking sector continued to dominate the research coverage space, accounting for 23 percent of total research notes in 4Q10. It fetched 50 percent of total "Sell" ratings in 4Q10; this was the highest among other sectors, indicating uncertainty among investors. The telecommunications sector received maximum "Buy" calls, representing 21 percent of the total 117 in the region.
JEDDAH: Saudi Arabia's equity market continued to attract the most attention among the Gulf's markets, accounting for 46 percent of research notes and 39 percent of companies covered within the region.
Of the 243 research notes, "Buy" calls (48 percent of research notes) continued to dominate over "Hold" (41 percent) and "Sell" (11 percent), indicating a positive sentiment in GCC markets, Kuwait Financial Center (Markaz) latest statistics said.
The market capitalization of researched stocks in Saudi Arabia accounted for 83 percent of the total domestic market capitalization. Oman (79 percent), Qatar (66 percent), Kuwait (57 percent), the UAE (55 percent) and Bahrain (36 percent) followed in that order.
The UAE was the most preferred equity market in 4Q10 as reflected by the fact that 56 percent of the reports were assigned a "Buy" rating.
Saudi Arabia accounted for maximum "Buy" as well as "Sell" ratings. Moreover, the proportion of "Buy" ratings in the Kingdom increased to 53 percent in 4Q10 from 50 percent in 3Q10. However, the share of "Buy" ratings in Qatar fell to 52 percent in 4Q10 from 100 percent in 3Q10. A third of the research notes covering Bahrain fetched "Sell" ratings, higher than other GCC markets.
Etihad Etisalat Co. continued to remain the most tracked stock during the quarter, with eight research notes. Saudi Arabian Mining Co. was also covered by an equal number.
Saudi Telecom Co. followed with six notes, and Almarai Co. and Qatar National Bank with five notes each. All research notes on Etihad Etisalat Co. and five on Saudi Arabian Mining Co were assigned a "Buy" rating.
Saudi International Petrochemical Co. too received five "Buy" ratings, while Saudi Basic Industries Corporation and Saudi Telecom Co. received four each.
The banking sector continued to dominate the research coverage space, accounting for 23 percent of total research notes in 4Q10. It fetched 50 percent of total "Sell" ratings in 4Q10; this was the highest among other sectors, indicating uncertainty among investors. The telecommunications sector received maximum "Buy" calls, representing 21 percent of the total 117 in the region.
© The Saudi Gazette 2011
