Investors book gains in Dubai Islamic Bank while trading is muted on other Gulf markets
Dubai's measure slipped in early trade as investors booked gains in Dubai Islamic Bank after the lender posted first-quarter results, while trading was muted on other bourses.
Shares in DIB fell 4.7 percent, trimming 2013 gains to 24.4 percent. The lender posted a 17 percent rise in profit.
Gulf Navigation and builder Arabtec shed 1.6 and 0.5 percent respectively.
Dubai' index retreated 0.2 percent to 1,970 points, easing away from Thursday's 40-month closing high.
Elsewhere, Abu Dhabi's measure slipped 0.2 percent to 3,127 points, but was up 19.3 percent year-to-date. Trading was muted as investors await companies' earnings to justify the recent rally.
In Kuwait's the benchmark declined 0.4 percent to 6,934 points, extending declines since Thursday's 26-month high.
Qatar's measure declined 0.2 percent to 8,367 points, while Oman's bourse bucked the regional trend and ticked up 0.1 percent to 6,269 points.