Gulf stock markets were mixed on Monday. Saudi Arabia's Tadawul All Share Index (TASI) fell for a sixth trading day in seven as trading slumped 0.24 percent to a 23-month low closing at 6,158.05 points. Kuwait and Oman also ended lower, losing 0.2 percent to 6,648 points, and 0.4 percent to 6,276 points, respectively. “The key word in regional markets is volumes, which are low and will remain a concern everywhere including Saudi Arabia,” said Saleh al-Onazi, vice-president of principal investment at Swicorp in Riyadh. Saudi Basic Industries Corp (SABIC) fell 0.6 percent and SABB dropped 0.9 percent as Saudi Arabia's index resumed its slide. “People are being a lot more cautious,” said a Riyadh-based analyst who asked not to be identified. “They realize there is a lot of volatility abroad so when there's good news on the global economy one day, they're not jumping back into the local market because the next day will probably bring some bad news.” Qatar's benchmark rose 0.3 percent to 7,042 points. “The index has rebounded and although it's only up about 20 points, it gives an important signal that the index is successfully maintaining above 7,000 points,” added Abu Ghoush. “The index will probably trade in a tight range of 40 points up or down for the remainder of Ramadan.” Qatar Fuel Co climbed 1.5 percent Dubai index rose 0.6 percent to 1,474 points. Abu Dhabi benchmark gained 0.3 percent to 2,494 points. Bahrain index rose 0.2 percent to 1,410 points.
