By: Mahmoud Gamal
Mubasher: The GCC markets are projected to continue their sideways upward performance on Tuesday, on the back of positive financial results as well as the growing purchases, analysts told Mubasher.
Good financials of main GCC markets like the UAE and Kuwait spread to replace the significant decline in oil prices, pushing foreign investors to build up new purchase positions of GCC stocks which reached attractive levels, technical analyst Amir Mansour said.
The gulf stock exchanges are heading to hold at their current levels, backed by the increase of positions for shares, regardless the technical volatile performance, said analyst Mohamad Sultan.
He noted that the mixed performance of global markets seen on Monday will push traders to be more cautious at the current time, while speculators will continue to increase positions of stocks that reached low prices.
Translated by: Ingy ElSafy
