Financial Market in Dubai (Photo: AP)
Gulf stocks were mixed Thursday in reaction to continued volatility in global markets as investors worry over a potential new US recession.
The Dubai Financial Market index, which dropped more than one percent at the opening, managed to climb back to the green, closing 0.21 per cent up at 1,464.00 points.
The leading shares of Emaar Properties which slipped 1.43 per cent in morning trade, reduced its losses to 1.08 per cent.
DFM closed 1.15 per cent up on Wednesday, after profit-taking reduced its pace of recovery after being mostly in the red since the trading week began.
Meanwhile, the general index in Abu Dhabi failed to recover, closing 0.59 per cent down at 2,587.22 points.
Real estate shares led the losses, falling 1.89 per cent, while energy shares dropped 1.7 per cent.
The Muscat Securities Market in Oman, which was the only Gulf market to drop on Wednesday, also remained in the red on Thursday, closing 0.57 per cent down at 5,848.72 points.
Qatar Exchange, the second-largest Arab bourse after the Saudi market which remains closed on Thursday, also closed 0.25 per cent down at 8,107.47 points.
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