Dubai shares fell more than 1 per cent in thin trade yesterday on acrosss-the-board losses, while services led Abu Dhabi stocks down nearly half a per cent.

The Dubai Financial Market index of 28 listed companies fell 1.3 per cent to 1,225.29 points in thin trade of 70.4 million shares. Turnover slid 28 per cent to Dh957.9 million as losers beat gainers 15 to four.

Abu Dhabi stocks eased 0.35 per cent to 5,724.07 but trading was brisk with 56 million shares traded. The value of share sales rose to Dh 584.9 million from Dh535.5 million the previous day. In Dubai, the bank, investment and services indices all shed more than one per cent but National General Cooling Co was a notable gainer, rising 1.28 per cent to Dh7.10.

Emirates Bank International, Dubai's second-biggest bank by assets, led the losers, falling 3.22 per cent Dh58.55, while Dubai Islamic Bank dropped 1.62 per cent to Dh33.50. Kuwait's International Financial Advisors fell 2.76 per cent to Dh31.70.

Market heavyweight Emaar Properties dropped 1.92 per cent yesterday to Dh25.60 after rising more than one per cent the previous day. Emaar was the exchange's top traded stock by value, with 8.7 million shares worth Dh222.7 million traded.

Home finance leader Amlak also shed 1.48 per cent to Dh13.35.

In Abu Dhabi, losses in banks and services outweighed gains in industry.

Gulf Cement Co. was a top loser, falling 1.76 per cent to Dh16.70, Ras Al Khaimah Properties shed 1.72 per cent to Dh3.99 and Sudan Telecommunications dropped 1.55 per cent to Dh133.10.

Among top gainers, Al Wathbah National Insurance Company rose 7.39 per cent to Dh10.90 and Ras Al Khaimah Ceramics rose 5.26 per cent to Dh11.

Al Dar Properties climb-ed 3.96 per cent to Dh10.50 on news it was poised to announce new projects.

Phone monopoly Emirates Telecommunications, which rose 4.14 per cent on Tuesday on hopes of that its Pakistan Telecoms purchase deal was still intact, fell 1.16 per cent yesterday to Dh29.85.

The UAE's combined share index, which includes 77 companies listed in Dubai and Abu Dhabi, is up 131.07 per cent since the beginning of this year, helped by robust growth in corporate profits and flush liquidity.