Stock markets in the UAE and other Gulf countries are expected to open in positive mood in the wake of rising oil prices.

Last Friday, oil prices rose more than six per cent to end with the biggest weekly gain in a month. Brent crude futures settled up $2.51, or 6.4 per cent, at $41.94 a barrel.

US crude futures closed up $2.46, or 6.6 per cent, to $39.72. Earlier in the day, it rose to nearly $40. For the week, both benchmarks rose about eight per cent, their most since the week ended March 4.

Stock markets rebounded in Europe and on Wall Street on Friday on higher oil prices. The recovery in oil prices had a stabilising effect on most major global stock indexes around the world.

On Saturday Saudi Arabia's Tadawul Index inched up by 0.72 per cent to 6,258.11 points.

Last week, Dubai Financial Market's General Index was nearly one per cent up at the close of the last trading day of the week on Thursday. But Abu Dhabi benchmark index closed the week with 0.88 per cent decline. Rising oil prices is a positive sign for Gulf stocks and it's most likely that the bourses in the region opened with bullish trend, according to an equity analyst.

Dubai and Abu Dhabi markets both closed in positive territory on the last trading day of the week and it is quite possible the trend will continue on Sunday on oil price rebound, the analyst explained.

This year, January was tough for the DFM but the bourse started recovering slowly in the following months. Till last Thursday, DFM General Index was 7.46 per cent up compared to its closing on December 31, 2015.

The Dubai index witnessed the peak of 3,420.71 on March 8, 2016 and lows of 2,590.72 on January 21, 2016.