The GCC markets continue to reel under pressure due to the negative global sentiments. All the MSCI GCC indices ended the month of July on a negative note. MSCI Kuwait was the best performer with a monthly loss of 1.64%. Lackluster market volumes were witnessed during the month as remained cautious. MSCI Oman and MSCI Saudi were the top losers as both posted heavy losses of 6.7% and 6.5%, respectively. As a result, all asset allocation models performed poorly during the month.