By: Mahmoud Gamal

Mubasher: The Fluctuation trend is foreseen to continue in GCC stock exchanges on Monday, following the declines seen on Sunday and resulting from growing concerns after the UK voted to leave the European Union, analysts told Mubasher.

The majority of leading stocks will see further exits in line with anticipation on Monday, after they have reached the profit taking levels, said analyst Adnan Al-Delimi.

Foreign investors showed a strong selling trend in the GCC markets, coinciding with the liquidity status in both the Saudi and Qatari markets, he added.

Meanwhile, economic analyst Ali Al-Anzi expected foreign investors to preserve part of their liquidity due to the current economic events as well as the low oil prices. 

Most of the GCC investment portfolios are projected to start liquidation and partial profit taking to face the current crisis which similar to the global crisis of 2008, said capital market analyst Hammoud Al-Shimiry.

Translated by: Ingy ElSafy