Dubai's share index ended an eight-session winning streak on Tuesday and most other major stock markets in the Gulf also retreated, but the Saudi market rose thanks to gains in banks.
Saudi Arabia's benchmark index advanced 0.9%, with Saudi National Bank (1180.SE) rising 3.5%, a day after the country's largest lender proposed a cash dividend of 0.65 riyal per share for the first half.
Among other gainers, Dallah Healthcare (4004.SE) added 1.8% following a rise in its quarterly profit.
The kingdom's economy grew in the second quarter for the first time since the coronavirus pandemic began, fuelled by 10.1% growth in the non-oil sector, according to flash government estimates on Monday.
Separately, the Saudi Exchange on Monday announced the listing of Banan Real Estate on the parallel market on Aug. 11.
Dubai's main share index (.DFMGI) lost 0.2%, hit by a 0.8% fall in sharia-compliant lender Dubai Islamic Bank (DISB.DU).
In Abu Dhabi, the index (.ADX) dropped 0.2%, pressured by a 0.4% fall in the country's largest lender, First Abu Dhabi Bank (FAB.AD).
Among other decliners, Ras Al Khaimah Cement Co (RAKCC.AD) tumbled about 10% to become the top loser on the index. Last week, the cement firm posted a net loss of 7.2 million dirhams for the second quarter.
The Qatari index (.QSI) lost 0.3%, as most of the constituents of the index retreated, including Commercial Bank (COMB.QA), which was down 1.9%.
Outside the Gulf, Egypt's blue-chip index (.EGX30) gained 0.5%, with top lender Commercial International Bank (COMI.CA) rising 2%.
Egypt on Monday received its first shipment of one-shot Johnson & Johnson (JNJ.N) COVID-19 vaccines, obtaining 261,600 doses in cooperation with the African Union, the health ministry said. read more
The country has also received shipments of the Sputnik, Sinopharm and Oxford-AstraZeneca shots.
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