"I believe investors are now focusing attention on the second quarter earnings and developments on global markets which recently reflected the euro zone sovereign debt woes and world economic recovery prospects," an Amman-based portfolio manager said.
He also expected crude prices to continue their "important role" in deciding the tendency of regional markets.
The Saudi stock exchange was last week the scene for violent fluctuations that mainly reflected volatility of oil prices on world markets.
The Tadawul All-Share Index (TASI) closed week marginally lower at 6,343.47 points, compared with the earlier week's close at 6,346.44 points.
The volatility of the market was mainly blamed by the Saudi economic analyst Mohammad Anqari on the fluctuating petrochemical sector, particularly the Saudi Basic Industries Corp. (SABIC), due to unstable oil prices.
"The fluctuating SABIC prices could reflect unhealthy connotations for the market," Anqari told the Dubai-based CNBC business television.
He attributed the sluggish performance of the Saudi market last week mainly to the absence of fresh liquidity and ambiguity surrounding the world economy.
"I believe the Saudi market is tied to the world economy. If prospects improve then we expect TASI to crash the 6,350-point area upward," he said.
Jordanian shares were volatile last week, but the all-share index of the Amman Stock Exchange gained 1.77 percent, closing at 2,381 points, mainly due to improving performance of other Arab stock markets, analysts said.
Kuwaiti shares scored gains last week for the first time in five weeks, led by blue chips particularly the Zain mobile operator.
Kuwait's KSE all-share index closed week up 0.64 percent at 6,625 points despite losses incurred by the banking sector, analysts said.
The United Arab Emirates shares also departed the red area for the first time in five weeks mainly due to optimistic news about the repayment of the Dubai World debts, analysts said.
The benchmarks of the Dubai and Abu Dhabi stock exchanges were up 2.58 percent and 1.51 percent, to close respectively at 1,538 points and 2,553 points.
Egypt's AGX30 index, measuring the performance of the market's 30 most active stocks, shed 1.7 percent, closing week at 6,307 points mainly due to selling by local investors, analysts said.
