The regional stock markets are likely to consolidate in the week ahead after having recovered from their lows triggered by civilian unrest in Libya and public demonstrations in Bahrain, Oman and Yemen, say market analysts.
"I believe the markets will try to consolidate at the levels of last week. If we don't see a break above key resistance points we will probably see some profit-taking," Mohammad Ali Yasin, chief investment officer at CAPM Investment, told Gulf News by telephone. "I don't see strong selling pressure in the week ahead as there was no increase in Middle East tensions as was widely anticipated."
Yasin said there was relief in Saudi Arabia yesterday which should set the tone of other regional markets in the week ahead.
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