DUBAI: Qatar’s shares outperformed regional markets, rising to a six-week high as bargain hunters returned to the overlooked market, while other bourses also edged higher.

Doha’s index climbed 0.8 percent to its highest level since Sept. 19. The market has been trapped in a sideways range in recent weeks due to earnings that disappointed investors.

Large-caps Qatar National Bankand Industries Qatar were the main support, rising 2.1 and 1.9 percent respectively. Earlier this month, QNB posted a 14.3 percent rise in quarterly earnings which missed estimates, while IQ reported a six percent drop in nine-month profit.

UAE markets meanwhile, struggled to make gains ahead of a long weekend. Dubai’s index added 0.2 percent, trading in a tight range since hitting a five-year peak earlier this week.

“There’s little upside in UAE — the re-rating of multiples has already been done,” said Ali Adou, portfolio manager at The National Investor. Investors optimistic that Dubai will win the right to host the World Expo 2020 have already positioned funds, Adou said, adding that earnings have also been priced in.

“The next catalyst will be fourth-quarter results and dividends early next year. It’s healthy to see a correction or the market can go stagnant,” he added.

Abu Dhabi’s measure climbed 0.2 percent. UAE markets will close on Sunday for a one-day holiday.

Elsewhere, Egypt’s measure added 0.1 percent, while Oman .MSI and Kuwait rose 0.2 and 0.3 percent respectively.