By: Mahmoud Gamal

Mubasher: Foreign sales increased on the leading stocks of the GCC markets, which pulled most of them to downward on Wednesday, along with oil losses, which reached unexpected low levels, according to analysts.

Analysts expected that the GCC markets would continue with their horizontal performance on Thursday, especially after the fluctuating performance of the global markets after the attack in London.

Foreigners topping the GCC traders tend to liquidate purchasing positions on leading stocks after oil left the technical safe levels at $50, technical analyst Badr Fawaz told Mubasher.

Fawaz added that investors were negatively affected by anticipations around oil price's extension of declines; therefore, they seemed to be averse to capital flow to stocks.

In the UAE markets, the DFM Company and Arabtec fell 2.3% and 0.7%, respectively, while Abu Dhabi Commercial Bank and Aldar Properties decreased 1.3% and 0.7%, respectively.

In the Saudi Stock Exchange (Tadawul), SABIC went down 1%.

On the other hand, the main index of Boursa Kuwait rose 2%.

Moreover, local and some institutional traders tended to small and medium stocks in Boursa Kuwait to benefit from the attractive levels reached, technical analyst Doaa Farouq said.

Tadawul fell 1.2% to 6,832 points at Wednesday's close, while Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) decreased 0.6% to 3,475 points and 0.7% to 4,482 points, respectively

Boursa Kuwait went up 2% to 7,020 points, the Muscat Securities Market (MSM) inched down 0.2% to 5,618 points, while the Bahrain Bourse (BHB) shed 0.1% at 1,367 points.

The Qatar Stock Exchange (QSE) levelled down 0.9% to 10,396 points.