By: Mahmoud Gamal
Mubasher: GCC markets are expected to keep their horizontal performance on Monday, awaiting oil prices changes with the official beginning of implementing the OPEC agreement, according to analysts.
Oil stood at important resistance points at the end of last week, which indicates fluctuation in the GCC markets by the beginning of the current week, technical analyst, Ahmed Aql, told Mubasher.
He noted that investors await the commitment of OPEC and non-OPEC producers towards the production cut agreement.
Moreover, technical analyst, Hamoud Al-Shammri, added that investors should be cautious from the current weak liquidity in the GCC markets and not to increase positions.
Tadawul closed Thursday shedding 0.4% to 7,210 points.
Dubai Financial Market (DFM) increased 0.3% to 3,531 points, while Abu Dhabi Exchange (ADX) went up 1.7% at 4,546 points.
The Kuwait Stock Exchange (KSE) levelled down 0.1% to 5,748 points, the Bahrain Bourse also added 0.6% to 1,220 points and the Qatari Exchange grew 1% to 10,437 points.
The Muscat Securities Market (MSM) gained 0.3% to 5,783 points.
Translated by: Sara Ghali
