Shares in the UAE fell for a second consecutive session as investors continued to book profit before the US interest rate decision.
Saudi and Qatari bourses also finished lower in line with international indexes, as investors waited for the US Federal Reserve’s economic outlook for next year.
“Everyone’s expecting a rise, and brokers have briefed their clients on that basis,” said Sanyalak Manibhandu, a research manager at NBAD Securities in Abu Dhabi.
“What’s less predictable is what the Fed will say about the trajectory for the coming year, which is what people are waiting on.”
Oil prices meanwhile drifted lower following a report of rising US inventories. Brent crude futures dipped below US$55 a barrel in the morning, trading at around $54.96 in the late afternoon.
Shares in Dubai led losses across the Arabian Gulf region, ending a quiet day of trading 1.2 per cent lower at 3,583.62. Emaar Properties and DIB led the sell-off of big names, closing down 1.3 per cent and 1.9 per cent respectively.
Emirates NBD was the pick of the blue chips, finishing up 1.8 per cent at Dh8.39.
Shares in Marka finished up by 4.6 per cent at Dh1.37, their highest level since September 2014, ahead of an announcement by Al Ramz Corporation that it had acquired about 5 per cent of the retail and F&B operator.
The Abu Dhabi Securities Exchange General Index ended 0.9 per cent lower at 4,497.39, dragged lower by FGB and Etisalat.
In Saudi Arabia, the Tadawul closed down 0.6 per cent, its third consecutive session in the red.
jeverington@thenational.ae
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