By: Mahmoud Gamal

Mubasher: GCC markets are expected to keep their upside fluctuating performance on Wednesday, coinciding the return of the global markets to rise, despite the absence of the foreign investor, according to analysts.

Wednesday and Thursday will be real experiment for the resistance levels and will show the ability of the markets to break them and achieve rises, market analyst, Mohamed Al-Azmi, told Mubasher.

Moreover, technical analyst, Hamoud Al-Shammri, added that the GCC markets currently witness purchases on small and medium stock favored by local individual investors.

In the Saudi Stock Exchange (Tadawul), Tihama for Advertising hiked 10% and Saudi Electricity Company added 1.8%.

Dar Al Takaful and Mashreq Bank surged 12% and 7.17%, respectively, while Abu Dhabi Hotels levelled up 10.34%, in the UAE markets.

In the Qatari Exchange, Qatar First Bank and Mazaya increased 2.36% and 1.16%, respectively.

Tadawul closed Tuesday rising 1.3% to 7,257 points.

Dubai Financial Market (DFM) decreased 0.3% to 3,542 points, while Abu Dhabi Exchange (ADX) went up 0.3% at 4,469 points.

The Kuwait Stock Exchange (KSE) levelled up 0.5% to 5,745 points, the Bahrain Bourse also added 0.3% to 1,211 points and the Qatari Exchange grew 0.4% to 10,305 points.

The Muscat Securities Market (MSM) gained 0.6% to 5,761 points.

Translated by: Sara Ghali