UAE bourses end mixed and Qatar's indexcloses near-flat in range-bound trading, with investors finding little reason to increase positions due to a lack of catalysts. Dubai's benchmark climbs 0.4 percent to close at
1,554 points, trading within a 14-point range over the last six sessions.
UAE and Qatar's markets are trapped in sideways trading on low volumes. Some investors are holding their positions, waiting for a catalyst to lift stocks, while some retail traders are speculating for short-term gains.
"Everyone regionally is positioned or is positioning for being long in these markets (but) investors need to be
reasonably convinced it's a good investment story," says Ibrahim Masood, senior investment officer at Mashreq bank. "I don't think there is a room to be tactical and reduce positions to buy back later."
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