By: Mahmoud Gamal
Mubasher: The gulf markets performance is likely to remain to be a rising horizontal on Monday, while traders are watching the global markets' performance, which ended last week in a mixed note.
GCC markets achieved little gains on Sunday, with retreated traded volume.
The markets will remain between the natural rising and falling in the coming period till the fourth quarter results and distribution policies' announcements, technical analyst, Ibrahim Al Filkawy, told Mubasher.
Moreover, the speculation happened on oil and pushed it up on Friday did not have a clear impact in yesterday's trading, technical analyst, Mohamed Al Hagery, told Mubasher.
Most of the portfolio managers returned to the selective purchase and to enhance the annual closings with the approaching of the end of this year, to offset a part of their losses, technical analyst, Hamoud Al Shimary, told Mubasher.
Al Shimary added that low liquidity of GCC shares shall make small traders to reduce positions.
Tadawul closed Sunday rising 0.7% to 7,138 point.
Dubai Financial Market (DFM) also advanced 0.01% to 3,555 points, while Abu Dhabi Exchange (ADX) added 0.8% to 4,497 points.
The Kuwait Stock Exchange (KSE) went down 0.3% to 5,651 points, the Muscat Securities Market (MSM) also shed 0.01% to 5,728 points.
Translated by: Sara Ghali
