By: Mahmoud Gamal
Mubasher: GCC stock markets are expected to see the downside prevailing amid jittery performance and weak liquidity on Monday as investors await new incentives to enter the market, analysts told Mubasher.
They added that investors were also waiting to see oil price movements and global bourses' performance.
Trading on Monday and Tuesday is likely to be a real test for resistance levels for GCC markets, and their willingness to surpass these levels after oil prices remained stable at $45 per barrel, GCC market analyst Ahmed Akl told Mubasher.
Despite the presence of indicators of investor anticipation, GCC bourses are seeing significant purchases of small and medium stocks, analyst Hammoud El-Shamry told Mubasher in a comment.
Meanwhile, analyst Ibrahim Al-Filkawy noted that GCC stock markets were likely to continue to see a horizontal to a downside trajectory in the coming period, as investors await the emergence of new incentives that would determine market trends and movements.
Translated by: Nada Adel Sobhi
