Dubai: Dubai reverses early gains, slipping more than 1 per cent as the market becomes volatile and the benchmark moves between 200 to 300 point ranges.

Emirates NBD and Dubai Financial Market lead declined, falling 3.07 per cent and 2.63 per cent respectively.

Emaar Properties bucked the trend, clinging on to marginal gains after beginning a share buyback on Monday. Shuaa Capital gained 2.61 per cent after it said on Monday it would also buy back shares.

The index is down 1.37 per cent at 2,882 points.

Abu Dhabi's benchmark fell 1.42 per cent to 3,274 points, led by Abu Dhabi national Energy Co, which declined 7.14 per cent.