Dubai's index rises for a third session in four but late selling wipes out much of its intraday gains, with short-term retail traders dominant and seeking a quick profit.
The benchmark climbs 0.6 percent to 1,497 points, easing away from Wednesday's 15-week low and taking its 2012 gains to 10.6 percent.
"What we're seeing now is daily trading from small speculators - they are watching what's happening in global and regional markets and trading based on that," says Samer al-Jaouni, General Manager of Middle East Financial Brokerage Co.
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