Dubai: Stock markets in the United Arab Emirates fell in early trade on Monday as blue chips and speculative favourites were sold, while Qatar edged up.
Dubai's index slid 0.9 percent in the first 45 minutes, with Dubai Parks dropping 4.9 percent to erase some of its 14.3 percent gain on Sunday. Arabtec fell 4.1 percent.
But Amanat, a mid-cap healthcare and education investment company, rose 3.0 percent and was the most heavily traded stock on the bourse.
In Abu Dhabi, the index fell 0.7 percent, extending the previous session's losses. Heavyweights First Gulf Bank and Abu Dhabi Commercial Bank each fell more than 1.0 percent.
The largest listed stock by market value, Etisalat , added 0.3 percent after tumbling 2.2 percent on Sunday. The telecommunications giant had been falling since Thursday, when it said chief executive Ahmad Julfar had resigned and that it would restructure by the end of June. It did not detail the restructuring plans.
Doha's index edged up 0.1 percent in weak volume. Aamal Co, a real estate investment conglomerate, added 2.4 percent and was the most heavily traded stock.
Reuters
