Dubai's index slips as investors book gains from the previous day's rally, while Qatar's bourse edges higher amid regional investor caution ahead of a U.S. Federal Reserve meeting later this week.
Dubai heavyweights Emirates NBD and Emaar Properties shed 0.9 and 0.7 percent respectively. The emirate's index drops 0.7 percent to 1,560 points, trimming its year-to-date gains to 15.3 percent. The market rallied 1 percent on Sunday in heavy trading as end-of-week gains on world markets boosted local investor sentiment.
"Currently, the index should be targeting the last high that was reached in August at the 1,590 levels," MENA Corp says in a note. "A break for the 1,590 level will trigger a long move upwards."
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