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Gulf exchanges likely to see fluctuations

Gulf exchanges likely to see fluctuations
Traders at Boursa Kuwait (Photo Credit: Arabianeye- Reuters)

By: Mahmoud Gamal

Mubasher: The Gulf stock markets are expected to see further fluctuations on Monday, in line with anticipations for the trend of oil prices and stock markets, analysts told Mubasher.

Investors’ anxiety is increasing as the global markets are seeing an unstable performance on profit-taking that resulted from the escalation of events in Syria after US strikes, capital market expert Al Sayed Hussein.

The markets are moving sideways between support levels and important resistances, in line with oil price volatility, the analyst noted.

Current liquidity is still weak amid investors’ anticipation for first-quarter financials which will determine the markets’ trend in the coming sessions, Hussein said.

Investors should make quick speculations to make use of some of the markets’ rebounds and reduce their losses, capital market analyst Hamoud Al Shammari said.

Translated by: Julian Nabil