Major stock markets in the Gulf ended mixed on Monday, a day after the bourses were in the black as they reopened after a long Eid break, with the Abu Dhabi index reaching a new record high.
During holidays in the Gulf, traders typically cash in shares and are generally cautious of any developments in global markets while their bourses are closed.
In Abu Dhabi, the index (.ADI) advanced 0.9%, hitting a new record high, buoyed by a 2.9% rise in conglomerate International Holding (IHC.AD) and a 1.1% increase in telecoms firm Etisalat (ETISALAT.AD).
Elsewhere, Dana Gas (DANA.AD) gained 2%, extending gains for a second consecutive session, after the energy firm won an arbitration on the sale of assets in Egypt.
The company said in April that IPR Wastani Petroleum Ltd, a member of the IPR Energy Group, had requested arbitration after Dana Gas cancelled a sale of oil and gas assets in Egypt. read more
Abu Dhabi will reduce business setup fees to 1,000 dirhams ($272.27), a 94% reduction from current rates, effective from July 27, as part of efforts to enable the private sector, Abu Dhabi media office said on Sunday. read more
Saudi Arabia's benchmark index (.TASI) edged up 0.2%, supported by a 0.6% gain in Al Rajhi Bank (1120.SE) and a 2.1% rise in Dr Sulaiman Al-Habib Medical Services (4013.SE).
Dubai's main share index (.DFMGI) dropped 0.6%, weighed down by a 1.1% fall in top lender Emirates NBD Bank (ENBD.DU), ahead of its board meeting on Tuesday to discuss first-half financial statements.
Blue-chip developer Emaar Properties (EMAR.DU) retreated 1.5%.
The Qatari benchmark (.QSI) declined 0.9%, with Qatar Islamic Bank (QISB.QA) losing 1.7% and Commercial Bank (COMB.QA) declining 2.5%.
Outside the Gulf, Egypt's blue-chip index (.EGX30) finished 0.5% lower, as most of the stocks on the index were in negative territory including Commercial International Bank (COMI.CA), which dropped 1.1%.
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