Gulf markets were mixed on Monday as investors adjusted positions after recent gains and retail investors continue to increase risk despite a general lack of catalyst in regional markets, while Egypt's bourse hit a
14-month high.
Dubai's index climbed 0.1 percent to finish at 1,548 points, up for a second session in the last seven. "The market has been in a range for the past few sessions - retail (investors) perceive this level as an accumulation
phase," said Nabil Al Rantisi, managing director of MENA Corp. "Retail investors won't sell unless the market moves up or they see selling pressure."
Some institutions are selling, however, as retail investors buy. The market could correct to 1,510 levels this week, Rantisi added.
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