Markets to Rally Before the End of Ramadan (Re-post)

A study done by Morgan Stanley shows how the local equity markets tend to rally just before the end of Ramadan. They have calculated the average weekly return of Tadawul before, during and after Ramadan from 1998 to present. The 4 to 8 weeks before Ramadan markets are a bit weak, never the less, they trough just before the end of the month and soar approximately 4% two months later. If this study is accurate, the markets should rally on 19th of September.

I guess we’ll have to wait and see what happens
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