Business | Markets
Dubai, Muscat and Doha biggest losers as Gulf stock markets plunge
Emaar Properties fell 9.75 per cent to Dh2.87, pulling Dubai's main index 5.92 per cent down to 1,981.
- Gulf News
- Published: 11:01 November 16, 2008
- The DFM index had fallen 3.66 per cent at 10.45am to leave it hovering over the 2,000 point mark.
- Image Credit: Gulf News Archive
Dubai: Emaar Properties fell 9.75 per cent to Dh2.87, helping lead Dubai's main index 5.92 per cent lower to 1,981 points as stock markets in the Gulf states plunged on Sunday over global economic crisis fears.
Dubai, Muscat and Doha markets were the biggest losers.
Abu Dhabi's benchmark ended 0.34 per cent lower at 2,755 points led by Arakan Building Materials, which fell 7.2 per cent.
Industries Qatar ended 6.7 per cent lower and Qatar Islamic Bank fell 9.2 per cent as the country's index fell to levels last seen in September 2004, amid deepening fears over the global economy.
Qatar's measure closed 5.1 per cent down at 5,585 points.
Bahrain ended 0.35 per cent lower at 2,031 points.
Oman Cable Industry and Bank Muscat fell 8.9 per cent and 5.1 per cent respectively, leading Oman lower by 6 per cent.
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