By Mahmoud Gamal

Mubasher: GCC stock markets are forecast to give a sideways performance with downward movements on Wednesday amid mixed oil prices and world stock markets that are waiting for US Federal meeting's decision over interest rates, analysts told Mubasher.

In spite of the red end of most GCC equity markets on Tuesday, foreign investors came back to build position on the stocks that have not made big leaps lately and whose P/E ratios have hit attractive levels as well, said technical analyst Ghada Al Shaya.

However, regional bourses are still suffering from instability, said capital market analyst Basel Abo-Teima, clarifying that the main driver behind this volatile status is weak liquidity levels and lower oil prices, which neared $40 per barrel.

All in all, GCC bourses' volatile performance is expected to continue on Wednesday as investors are looking out today for the US Federal meeting's decisions, said capital market analyst Hamoud Al Azimy.