The property developer reported on Nov. 12 a near 8% drop in third-quarter profit.
Arqaam Capital had a net profit forecast of 435 million dirhams and EFG Hermes had projected 429 million dirhams, whereas the firm reported a net profit of 387 million dirhams.
In Saudi Arabia, the index reversed course to gain 0.1% driven by a 2.4% rise in Al Rajhi Bank and a 0.9% increase in Alinma Bank.
Elsewhere, Saudi Paper Manufacturing advanced 2.9% following an approval for a 52 million riyals ($13.87 million) grant.
Separately, Saudi Aramco set a price range for its listing that implies the oil giant is worth between $1.6 trillion to $1.7 trillion, below the $2 trillion the Saudi crown prince had targeted but still making it potentially the world's biggest IPO.
Aramco said on Sunday it plans to sell 1.5% of its shares or about 3 billion shares, at an indicative price range of 30 riyals ($8.00) to 32 riyals - valuing the IPO at as much as 96 billion riyals ($25.60 billion) at the top end of the range.
Dubai's index edged up 0.1%, led by a 4.7% leap in Emirates NBD. On Wednesday, the emirate's largest lender confirmed the sale of 31 million shares in Network International Holdings for 160 million pounds ($205 million).
Union Properties rose 2% after reporting third-quarter losses that were narrower than in the previous quarter.
However, the gains were capped by losses in Arabtec Holding , which dived 9.6%, its biggest fall since May.
The Dubai-listed contractor swung to a third-quarter loss of 437.4 million dirhams ($119.09 million), compared with a profit of 67.5 million dirhams a year ago.
The Qatari index was down 0.5% with the Gulf's largest lender Qatar National Bank decreasing 1.1% and Industries Qatar losing 1%.
Outside of the Gulf, Egypt's blue-chip index edged up 0.1% with Commercial International Bank adding 0.7%.
However, Sidi Kerir Petrochemicals closed down 6.4%, stretching its losing streak for a fifth session. On Tuesday, the firm reported a steep fall in its nine-month net profit.
SAUDI ARABIA The index rose 0.1% to 7,928 points
ABU DHABI The index slid 1.5% to 5,061 points
DUBAI The index edged up 0.1% to 2,705 points
QATAR The index lost 0.5% to 10,317 points
EGYPT The index up 0.1% to 14,556 points
BAHRAIN The index fell 0.4% to 1,499 points
OMAN The index added 0.2% to 4,093 points
KUWAIT The index edged up 0.1% to 6,263 points
($1 = 0.7815 pounds)
($1 = 3.7501 riyals)
(Reporting by Ateeq Shariff in Bengaluru; Editing by Susan Fenton)
© Reuters News 2019