By: Mahmoud Gamal
Mubasher: The majority of the GCC markets are expected to continue their positive performance on Sunday, following Eid Al-Fitr holiday, in line with the rise of the global markets and the slight recovery of oil prices, analysts told Mubasher.
As investors focus on risk-weighted assets, foreign investment portfolios will have further appetite to increase positions of operating shares as H1 financials announcements approach, said capital market analyst Mohamad Al-Shimiry.
Sunday’s performance will depend mainly on positive rapid speculations which can boost the indices to continue rising, said capital market analyst Mohamed Al-Omr.
Traders are foreseen to start profit taking on Monday until the performance of oil prices get clearer, said capital market analyst Al-Dhufairy.
Despite the current revive in the region, the GCC markets will need professional traders in the coming period, said analyst Nawaf Al-Ajami.
Translated by: Ingy ElSafy
