Dubai: The Abu Dhabi index extended losses on Thursday to hit its lowest level in a month led by First Gulf Bank. The Dubai index ended flat.

The Abu Dhabi Securities Exchange ended 1.83 per cent lower at 4,587.18, after hitting a low of 4,543.87, a level last seen in early February.

“Most of the large cap stocks were up like NBAD. The big negative came from FGB, which pushed down the index, and we saw big moves from smaller stocks like Waha Capital and Bank of Sharjah,” said Saleem Khokhar, head of equities of National Bank of Abu Dhabi Asset Management Asset Management.

First Gulf Bank, which was the second-most active stock in trade, ended 6.13 per cent lower at Dh14.55, after it went ex-dividend. Waha Capital also fell 2.33 per cent lower at Dh2.93. Ras Al Khaimah Ceramic ended 2.57 per cent higher at Dh3.59.

Etisalat ended 1.23 per cent higher at Dh12.3, while Aldar Properties ended 0.80 per cent higher at Dh2.52.

The Dubai Financial Market General Index ended flat at 3,747.54, after trading in a narrow range of 3,686.20-3,758.23. Volumes were placed at Dh431 million, almost more than half of the daily average of D1 billion.

Emaar Properties ended 2.99 per cent lower at Dh7.13, after it proposed a cash dividend of Dh0.15 per share for 2014. Damac Properties ended 2.66 per cent lower at Dh2.56. Arabtec ended 0.68 per cent lower at Dh2.91.

Dubai Parks and Resorts ended 3.53 per cent higher at Dh0.850. Dubai Islamic Bank ended 1.81 per cent higher at Dh6.74.

Mobily jumps

Saudi’s Tadawul ended 0.58 per cent higher at 9,517.94 after Mobily jumped.

Etihad Etisalat or Mobily ended more than 9 per cent higher to be at 38.70 Saudi riyals. The stock was the biggest gainer in trade.

“Mobily bounced today after the recent fall that we witnessed. Though it abstaining from paying dividends will weigh on the market,” said Khokhar.

The stock was suspended for trading since February 25 after the regulator sought explanation in the discrepancy of its 2014 results.

Saudi Basic Industries ended 0.19 per cent higher at 93 riyals.

Elsewhere in the region, Qatar’s Doha Bank also fell on its ex-dividend date, tumbling more than 7 per cent and dragging the Doha benchmark.

Qatar Exchange Index ended 0.08 per cent higher at 12,139.42. Muscat Securities MSM 30 Index ended 0.27 per cent lower at 6,526.45. Kuwait Stock Exchange Index ended 0.35 per cent lower at 6,539.29.

Bahrain Bourse All Share Index ended 0.20 per cent higher at 1,467.01.