Egypt’s main index fell 0.8 percent on concern the country’s political troubles are still far from resolved.
Groups on Facebook have called for further demonstrations in Tahrir Square on Friday, which they have dubbed a second revolution, to protest against the way the military and the interim government are handling the transition period.
“There is a strong call for a demonstration on Friday, so people are being cautious,” said Osama Mourad of Arab Finance Brokerage.
Orascom Telecom slipped 4.7 percent, its second day of declines, on profit-taking. Its share price had soared earlier on a 16-fold jump in quarterly earnings.
Abu Dhabi’s index slipped 0.6 percent to its lowest close since April 10, as banks weighed.
“Institutional (investors) are focusing elsewhere. There is a lack of volumes and no volatility, so day traders are gone,” said Vyas Jayabhan from Al Dhafra Financial Broker.
First Gulf Bank fell 1.7 percent and Abu Dhabi Commercial Bank slid 2.5 percent.
Dubai’s index declined for a fourth session, falling 0.2 percent to its lowest close since April 5.
Saudi Arabia’s Tadawul All-Share Index climbed 0.1 percent, bucking a downward regional trend.
Kingdom Holding Company (KHC) and Zain Saudi rose after the two companies said the investment firm is still in talks for a 25 percent stake acquisition in the telecoms operator.
Zain Saudi climbed 0.7 percent and KHC gained 2.3 percent, together accounting for 20 million traded shares.
Kingdom and Bahrain’s Batelco have made a joint bid for a quarter-stake in Zain Saudi.
Qatar’s index fell 0.7 percent to its lowest close since March 28 as investors booked profits for a second day.
Heavyweights Qatar National Bank and Industries Qatar fell 1.8 and 0.9 percent respectively.
Oman’s bourse ended its three-session gains and declined toward Wednesday’s 17-month low amid a regional downtrend.
The index eased 0.5 percent as losers outnumber gainers 16 to seven in lackluster trading.
“We might not see a healthy rally over the short term — expect range-bound activity in the coming trading sessions,” said Kanaga Sunder of Gulf Baader Capital Markets. “Markets would take cues from global and regional sentiment.”
Bank Muscat and Oman Telecommunications Co. fell 1.1 and 0.5 percent respectively.
Meanwhile, Kuwait’s index eased 0.5 percent to 6,411 points and Bahrain bourse gained 0.1 percent to 1,366 points.
