By: Mahmoud Gamal

Mubasher: Most GCC markets are expected to see a sideways-to-bullish trend on Sunday, amid the rise of oil prices, analysts told Mubasher.

Stability of oil prices above $50 per barrel and the approach of first-quarter results will lead traders to direct their investments towards blue chip stocks of companies expected to post positive results, financial analyst Ahmed Akl told Mubasher.

The GCC markets are generally witnessing fluctuations, pressured by various foreign news like the movement of oil prices, which are currently affecting the bourses, Akl added.

Some markets need to break important resistance levels and stabilise above them through the pumping of new liquidity, the analyst said.

The decline of global stocks will push investors to be cautious amid expectations that US President Donald Trump will not manage to implement his stimulus policies, capital market analyst Nawaf Al Ajmi told Mubasher.

Speculators will continue to increase their positions in low-priced stocks which reached their lowest price-earnings ratios, Al Ajmi concluded.

Translated by: Julian Nabil