DUBAI: Stock markets in Dubai and Abu Dhabi fell back in early trade on Tuesday as blue chips sold off, while Qatar edged higher as traders bought shares in banks and the real estate sector.
Dubai's index slid 0.4 percent as large sell orders were executed in Emaar Properties and Emaar Malls.
Emaar Properties, the largest stock by market value, slid 1.4 percent although it is still up 18.6 percent from its December low.
The most heavily traded stock, Arabtec, jumped 4.7 percent, however; it is up 18.3 percent from this month's low.
Abu Dhabi's index slid 0.1 percent in weaker volumes than in the previous two days. Gainers and losers were even, but heavyweights National Bank of Abu Dhabi and Etisalat pulled the benchmark lower as they fell 1.7 and 0.3 percent respectively.
United Arab Emirates central bank data for November, released on Monday, showed weak money supply growth and the slowest annual bank lending growth since March 2014.
In Qatar, Doha's index climbed 0.3 percent after large buy orders boosted volumes at the opening bell. Gainers outnumbered losers 12 to 7, with banks and real estate-related companies leading gains. Commercial Bank jumped 3.2 percent and Barwa Real Estate rose 1.6 percent.
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