By Mahmoud Gamal

Mubasher: Most GCC stock markets are forecast to give a positive performance on Wednesday as oil prices and world markets have started to recover.

Market analyst Mohanad Oraykat expected GCC markets to achieve more gains today on the recovery of oil prices in spite of various speculations about an unanimously accepted freeze agreement.

Brent crude futures and US West Texas Intermediate crude respectively rose yesterday to $49.96 and $48.10 per barrel amid a green ending of US stocks.

Unlike, economic analyst Nawaf Al-Ajmi expected profit-taking to continue on Wednesday. Further, investors will likely keep accumulating and targeting real estate and banking stocks in particular.

However, financial analyst  Hamoud Al-Shammari assured GCC equity markets still give promising technical indicators for the coming period namely with some positive data to come up.

Al-Shammari advised investors to trade cautiously until the oil upturn is confirmed and the US interest rate is decided as well.