Dubai's main index fell below 4,000 points for the first time in 15 weeks, paced by Emaar Properties and Dubai Islamic Bank (DIB).
The main index dropped 2.44% to 3,968.09 points, with Emaar Properties tumbling to its lowest close in 28 months after the company failed to allay investor concerns about a land-for-stocks-deal with the government.
The stock dropped 3.47% to 9.75 dirhams, its weakest finish since April 12, 2005.
The Abu Dhabi index fell for an eighth day as real estate stocks tracked a slide in shares of Emaar in Dubai.
The index fell 1.95% to 3,327.86, its biggest decline this month, with Sorouh Real Estate dropping 4.35% and Aldar Properties 5.06%.
Saudi Arabia's main index closed up for the fourth time in five trading days, paced by Saudi Electricity and Samba Financial Group.
The index climbed 0.18% to 8,089.09 points, with Saudi Electricity up 2.17% and Samba 1.03%.
After the being the only loser in the Gulf, the index is up almost 2% this year.
The main indicies of Kuwait and Qatar also rose, closing up for a third consecutive day, paced respectively by Global Investment House and Industries Qatar.
Kuwait, the best performer in the Gulf this year, edged up 0.1% to 12,584.40 points, while Global was up 1.18%.
Qatar rose 0.4% to 7,484.56 points, with Industries Qatar rising 0.64%. The index is up more than 4.5% this year.
Oman's index fell, ending 0.42% down at 6,577.89 points. Bank Muscat fell for a fourth day, to close 0.57% down.
Bahrain's index also ended lower, down 0.44% at 2,550.21 points. Source
The main index dropped 2.44% to 3,968.09 points, with Emaar Properties tumbling to its lowest close in 28 months after the company failed to allay investor concerns about a land-for-stocks-deal with the government.
The stock dropped 3.47% to 9.75 dirhams, its weakest finish since April 12, 2005.
The Abu Dhabi index fell for an eighth day as real estate stocks tracked a slide in shares of Emaar in Dubai.
The index fell 1.95% to 3,327.86, its biggest decline this month, with Sorouh Real Estate dropping 4.35% and Aldar Properties 5.06%.
Saudi Arabia's main index closed up for the fourth time in five trading days, paced by Saudi Electricity and Samba Financial Group.
The index climbed 0.18% to 8,089.09 points, with Saudi Electricity up 2.17% and Samba 1.03%.
After the being the only loser in the Gulf, the index is up almost 2% this year.
The main indicies of Kuwait and Qatar also rose, closing up for a third consecutive day, paced respectively by Global Investment House and Industries Qatar.
Kuwait, the best performer in the Gulf this year, edged up 0.1% to 12,584.40 points, while Global was up 1.18%.
Qatar rose 0.4% to 7,484.56 points, with Industries Qatar rising 0.64%. The index is up more than 4.5% this year.
Oman's index fell, ending 0.42% down at 6,577.89 points. Bank Muscat fell for a fourth day, to close 0.57% down.
Bahrain's index also ended lower, down 0.44% at 2,550.21 points. Source
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