Dubai's shares fell yesterday as investors booked profits after a positive week.
"There was light profit taking from retail investors," said Julian Bruce, the director of institutional sales trading based in Dubai at EFG Hermes. "Most of the stocks have had a recent run and investors would like to take profits off the table ahead of the weekend."
In Dubai, Emaar Properties, the developer behind the Burj Khalifa, fell 1.2 per cent to Dh3.26. Arabtec Holding, one of the emirate's biggest contractors, fell 1.3 per cent to Dh2.99.
Tabreed, a district cooling company, declined 2.3 per cent to Dh1.26.
The Dubai Financial Market General Index lost 0.6 per cent, closing at 1,535.71. The benchmark rose about 4 per cent over the week.
Abu Dhabi's bourse made decent gains after lagging behind Dubai's performance this week.
Aldar Properties, the developer behind Yas Island and Ferrari World, advanced 1.8 per cent to Dh1.13. Sorouh Real Estate, the developer behind Reem Island's Sun and Sky Towers, gained 0.9 per cent to close at Dh1.03.
Meanwhile, Dana Gas, a UAE explorer and producer, was unchanged at 38 fils. Etisalat added 0.1 per cent to close at Dh9.14.
The Abu Dhabi Securities Exchange General Index added 0.1 per cent to 2,467.96.
Elsewhere in the region: Kuwait's measure lost 0.4 per cent to 5,813.62; Bahrain's index added 0.1 per cent to 1,114.95; Oman's MSM 30 Index lost 0.4 per cent to 5,445.25; Qatar's QE Index lost 0.5 per cent to 8,281.26 points.
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On year-to-date basis, the
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