Mubasher: GCC stock markets are forecast to register gains on Thursday, backed by the improvement that world and oil markets have been witnessing recently, analysts told Mubasher.

While oil prices are nearing to shoot above $53 per barrel (p/b), GCC markets are likely to see gains during the last trading session this week, said market analyst Amer Al-Mohnadi, noting that blue-chip stocks have significantly reversed the general downward trend, namely in the Saudi bourse.

This upturn is expected to extend to the coming week, alongside Q3 financial disclosures and some positive speculations over a possible oil freeze agreement on 30 November 2016, Al-Mohnadi added.

"Liquidity levels are to improve as well", said market analyst Abdullah Al-Otaibi, explaining that traders have been waiting to recognize the first nine-month financial results and to cast light on operational stocks ahead of the dividend season.

Brent crude futures and crude oil WTI futures ended Wednesday at $52.67 and $51.60 p/b respectively.