Shares in Abu Dhabi suffered their worst day in over a year, as FGB and NBAD went ex-dividend. Dubai shares also fell.
Lower oil prices drove Saudi stocks lower, with most other bourses across the Arabian Gulf finishing higher.
The Abu Dhabi Securities Exchange General Index fell 2.9 per cent to a one-month low of 4,457.30, making it one of the day’s worst performing indexes worldwide.
FGB and NBAD led the sell-off, closing down 8.7 per cent and 4.2 per cent, respectively, after the two stocks went ex-dividend. ADCB and UNB also declined.
Aldar Properties led just four gainers in Abu Dhabi, rising 0.9 per cent to Dh2.37.
Dana Gas shares remained unchanged at 44 fils, after the energy firm said that independent consultants had determined a maximum potential net value of US$29 billion for its key assets in the UAE, Iraq and Egypt.
Shares in Dubai finished 0.3 per cent lower at 3,520.17, as investors booked profits.
DXB Entertainments, which gained 6.1 per cent on Wednesday, lost 4.7 per cent yesterday. DIB finished 0.9 per cent lower at Dh5.44.
Damac Properties and Aramex were the pick of five gainers, finishing up 2.1 per cent and 2.8 per cent. Emaar Properties regained ground after two straight days of losses, finishing up 0.1 per cent.
Oil prices continued their slide, as concerns over rising US inventories persisted. Brent crude futures fell as much as 2.8 per cent to US$52.29 per barrel in late afternoon trading.
Saudi shares tracked oil prices lower in the late afternoon, with the Tadawul eventually closing down 0.7 per cent. Sabic and Savola were among the main stocks impacted.
jeverington@thenational.ae
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