Saudi Arabia's index .TASI slumped to a seven-week low, with investors reducing positions ahead of end-of-year school holidays, and Oman's market slipped over fears of downbeat second-quarter corporate earnings. The kingdom's all-share Tadawul index .TASI fell 1.1 percent to its lowest close since April 19.
"Most of the technical indicators are giving diversion, some are negative and some are giving reversals - this means the market is weak," said Youssef Kassantini, a Saudi-based financial analyst.
"Market is trading in a very tight range. Traders cannot see the direction of the market."
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