By: Mahmoud Gamal

Mubasher: GCC indices need new liquidity to be injected on Sunday, to be able to break through important resistance levels, while speculations control amid oil prices hike, according to analysts.

Analysts added to Mubasher that GCC markets ended Thursday on mixed note, where Saudi Stock Exchange (Tadawul) led the rest of the GCC markets on the state budget 2017.

Most of GCC markets saw selling pressures last week due to profit gaining, despite the stability of oil prices between $54-55 per barrel, technical analyst, Ahmed Aql, told Mubasher.

He added that traders will increase positions in shares of high yield and financial solvency.

Tadawul closed Thursday up 0.4% to 7,088 points.

Dubai Financial Market (DFM) decreased 0.1% to 3,517 points, while Abu Dhabi Exchange (ADX) went down 0.7% at 4,437 points.

The Kuwait Stock Exchange (KSE) went up 0.1% to 5,676 points, the Bahrain Bourse also added 0.5% to 1,199 points and the Qatari Exchange levelled up 0.3% to 10,428 points.

The Muscat Securities Market (MSM) rose 0.2% to 5,737 points.

Translated by: Sara Ghali