A sell-off in Qatar National Bank (QNBK.QA: Quote) (QNB) on Sunday after the company announced a rights issue dragged Qatar's index to a three-week low, while UAE developer Emaar weighed on Dubai's benchmark.
QNB's share price fell up to 8.7 percent before retracing some of those losses. The stock is down 0.8 percent at 138.50.
Investors are cashing in on Thursday's gains, said Hani Girgis, assistant chief dealer at Dlala brokerage, adding that the shares would be released in two weeks, with a capital increase of 25 percent at 100 riyals per share.
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