* Qatar’s index fails to hold above 13,000 points

* Abu Dhabi remains range-bound

* Air Arabia plays catch-up after launching RAK operations

* Ahli United Bank lifts Bahrain’s bourse

* Kuwait’s Gulf Investment House falls after regulator
warning

By Olzhas Auyezov

DUBAI, May 6 (Reuters) – Most stock markets in the Gulf rose
on Tuesday, but Qatar retreated from a new historical high and
Abu Dhabi edged down, continuing a pattern of sideways moves.

The Doha bourse initially edged up after opening and crossed
the psychologically important 13,000 point mark to reach 13,016
points but failed to hold above it.

The index closed 0.4 percent lower at 12,934 points and
trading volume more than halved compared with Monday.

Industries Qatar and Qatar Islamic Bank
were the main drags as their shares fell 1.0 and 1.9 percent,
respectively.

Abu Dhabi’s index fell 0.8 percent to 5,053 points.
The banchmark has traded within a narrow range of 5,035 to 5,109
points for the last six sessions on relatively stable volumes.

Tuesday’s slide was largely due to stocks that had been
gaining in the previous few sessions. Shares in First Guld Bank
edged down 1.2 percent, Aldar Properties slid
2.9 percent.

DUBAI, BAHRAIN

Dubai’s bourse continued its leg up, adding 0.8 percent as
trading volumes continued to rise.

In a rare occurrence for the bourse, which is usually
dominated by property and financial sector stocks, Sharjah-based
budget carrier Air Arabia was one of the most actively
traded stocks on Tuesday, jumping 8.9 percent to become the main
support for the index.

Air Arabia, which on Tuesday began flying from the Ras Al
Khaimah emirate, is one of just a handful Dubai stocks that are
in the red this year. Tuesday’s surge cut its year-to-day loss
to 5.2 percent from 12.9 percent.

Bahrain’s index rose 0.3 percent. Ahli United Bank
was the main support, adding 3.8 percent after
reporting on Monday that its first-quarter profit rose 41
percent, adjusted for a one-off gain in early 2013.

In Kuwait, investment firm Gulf Investment House
fell 1.3 percent after the country’s financial regulator gave it
until Sunday to hold its annual general meeting (AGM) and
approve 2013 results or face a suspension of its shares.

Kuwait’s index, however, edged up 0.3 percent.

TUESDAY’S HIGHLIGHTS

DUBAI

* The index rose 0.8 percent to 5,374 points.

ABU DHABI

* The index slid 0.8 percent to 5,053 points.

QATAR

* The index slipped 0.4 percent to 12,934 points.

SAUDI ARABIA

* The index added 0.03 percent to 9,744 points.

EGYPT

* The index rose 0.8 percent to 8,371 points.

KUWAIT

* The index added 0.3 percent to 7,400 points.

BAHRAIN

* The index rose 0.8 percent to 1,467 points.

OMAN

* The index edged up 0.04 percent to 6,762 points.

(Editing by Praveen Menon)