By: Mahmoud Gamal

Mubasher: The majority of the Gulf stock markets are expected to continue their upward performance on Thursday in line with portfolio investments’ direction to increase positions of blue chips, despite the mixed performance of both the oil and global markets, analysts told Mubasher.

After a number of small caps reached speculative targets on Wednesday, it is expected that portfolio investments focus on medium shares and blue chips, director of an investment fund, Bader Fawaz, said.

Some traders at the UAE markets made good use of blue chips, headed by Emaar, and increased their purchasing positions before leading firms announce their fiscal results, Fawaz added.

The Qatari markets started to see recovery, approaching the 11,000-points level in line with Barwa Real Estate’s financial results which came higher than expectations, he noted.

Some of the portfolio investments may head to liquidating process and a partial profit-taking until the technical path of the markets is confirmed, capital market analyst Hammoud Al-Shimmer said.