By: Mahmoud Gamal
Mubasher: The long-term investors returned to buying the leading stocks in the gulf markets, amid tendency of portfolios to risk after oil rise, according to analysts.
Emaar and Arabtec Holding advanced 3.08% and 2.31%, respectively, while Dubai Islamic Bank and Aldar Properties also added 3.05% and 1.2%, respectively.
Analysts expected that markets, especially of the GCC region, will continue their fluctuating performance in Monday's session, with a probable rise to the global markets.
The continuous enhancement in the Saudi Stock Exchange (Tadawul) came after launching a purchasing wave from the institutions funds after OPEC's production decision, technical analyst, Amir Al Mansour, told Mubasher.
He added that the Saudi stocks got support during the past weeks from issuing the government for international bonds at a value of $17.5 billion.
Moreover, technical analyst, Doaa Farouq, said that most of the local portfolios keep the purchasing track, despite the anticipation controlling investors with the leading companies approach preparing their statements.
The GCC markets are facing important resistance levels and need positive news to support the stocks to break through these levels, technical analyst, Hamoud Al Shemary, noted.
He added advising traders to be patient in making investment decisions till making sure from the track of the global stocks.
Tadawul increased 0.5% to 7,130 points, Dubai Financial Market (DFM) also advanced 1.7% to 3,417 points, while Abu Dhabi Exchange (ADX) lost 1.1% to 4,262 points.
The Qatar Exchange added 1% to 1,0010 points.
The Kuwait Stock Exchange (KSE) went down 0.3% to 5,555 points, the Muscat Securities Market (MSM) added 0.4% to 5,610 points, while the Bahrain Bourse shed 0.2% to reach 1,176 points.
Translated by: Sara Ghali
