Dubai’s DFM index plunged 2.1 per cent to 1,848.28 on profit-taking after rallying to a new high last week. Emaar shares dragged the index as the developer reported a 28 per cent fall in fourth-quarter results as expenses rose.
Emaar shares plunged 3.70 per cent. Dubai index surged 16 per cent in January.
Among the gainers, Al Madina rose 3.75 per cent to close at Dh0.719, followed by Ekttitab by 2.78 per cent to Dh1.11 and Dartakaful by 2.45 per cent to Dh0.585.
Among the losers, Union Properties fell 5.12 per cent to Dh0.445 and DFM fell by 3.91 per cent to Dh1.23 and Emaar by 3.70 per cent to Dh4.69.
Of the 27 companies traded, six rose, 19 fell and two remained unchanged.
About 275.46 million shares worth Dh476.47 million were traded.
The index hit a low of 1843.43 during intra trade.
Energy, Investment and Financial shares lifted the Abu Dhabi Securities market (ADX) index further by 0.27 per cent to close at 2889.44 points.
Investment and Financial shares index rose 4.55 per cent while energy index surged 1.39 per cent.
Among the gainers, Finance House rose 15 per cent to Dh3.45, followed by Union Insurance Company by 10 per cent to Dh1.10 and Rak Bank by 4.90 per cent to Dh5.35.
Aldar Properties, whose fourth-quarter results are expected to be announced this week, closed 0.7 per cent at Dh1.44
Among the losers, Fujairah Cement Industries lost 9.62 per cent to Dh0.94, followed by Arkan by 4.11 per cent to Dh0.70 and GCIC by 3.57 per cent to Dh0.54.
Of the 27 companies traded, 11 rose, eight declined and eight closed unchanged.
About 250.08 million shares worth Dh222.31 million were traded on Sunday.