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Profit gains to control GCC trades on Tuesday – Analysts

Profit gains to control GCC trades on Tuesday – Analysts
(Photo credit: Arabianeye - Reuters)

By: Mahmoud Gamal

Mubasher: Analysts said that GCC markets are still trading at levels pushing them towards profit gains on Tuesday.

The markets are trading at levels keeping them down, amid low liquidity, technical analyst Mahmoud Abu Zayed told Mubasher, adding that they are experiencing important levels, coinciding a new technical rebound.

He added that approaching the annual dividends distributions will drive some portfolios to increasing positions.

Moreover, technical analyst Tareq Ghanem advised traders to be cautious as the sharp fluctuations in global markets may affect today's trades in most of the markets.

Small traders should not extend purchases on shares amid the state of uncertainty around the US Federal Reserves' decision to raise the interest rate and oil's recovery, technical analyst Hamoud Al Shemary told Mubasher.