By: Mamoud Gamal
Mubasher: Analysts expected that the state of concern and anxiety would continue for the session of Tuesday on the GCC markets.
Foreign portfolio tended to sell, after the investors' concerns were directed to the murdering of the Russian Ambassador in Turkey, adding to waiting the Saudi budget for 2017.
Hamed Al Ankary, technical analyst, told Mubasher that the concern will remain, with traded volume shrinking by half in last session.
The return of oil to the fluctuation and losing some gains is one factor that push investors towards selling, technical analyst, Ahmed Akl, told Mubasher.
He added that annual profits' announcements will be the main drive for the markets and the campus that will be followed by traders to exchange positions and build new ones.
The analyst advised traders to have an investment eye on the markets, with a focus on the different support point of each market, adding to pay attention to the shares with revenues.
Foreign investors in GCC markets tend to liquefy the purchasing positions they formed in the coming sessions, awaiting Saudi Arabia to announce its 2017 budge, followed by the rest of gulf countries, technical analyst, Mohamed Al Enzy, told Mubasher.
Al Enzy advised traders not to rush and to be patient in making an investment decision till the upward trend of oil is confirmed.
Tadawul closed Monday losing 0.9% to 7,077 point, while the Qatari Bourse went up 0.5% to 10,272 points.
Dubai Financial Market (DFM) also decreased 0.6% to 3,532 points, while Abu Dhabi Exchange (ADX) retreated 0.4% to 4,479 points.
The Kuwait Stock Exchange (KSE) added 0.1% to 5,657 points and the Muscat Securities Market (MSM) also gained 0.02% to 5,729 points.
Translated by: Sara Ghali
