Among the Gulf Cooperation Council members, the UAE and Bahrain feature among countries with high vaccination rates globally.
In Dubai, the main share index retreated 2%, its first fall in four sessions.
Blue-chip developer Emaar Properties was the worst performer on the benchmark, shedding 3.6%, while Dubai's biggest bank Emirates NBD fell nearly 3%.
The index, however, gained 1.2% for the week.
The Abu Dhabi benchmark fell 1.1%, snapping a four-day winning streak, with telecoms major Emirates Telecommunications losing 3.2%.
UAE's largest lender and index heavyweight, First Abu Dhabi Ban, lost 0.8%, while real estate firm Aldar Properties slipped 2.8%.
The index's losses, however, were capped by gains at aquaculture firm International Holding , which jumped about 6%, after it reported a sharp rise in 2020 profit.
The Abu Dhabi benchmark added 6.5% for the week, its best weekly performance since April last year.
The benchmark indexI in Saudi Arabia finished little changed on the day, en route to a 0.3% weekly loss.
Saudi British Bank was the best index performer during the session, gaining 1.5%, while healthcare firm Dr. Sulaiman Al-Habib Medical Services Group Co featured among top losers, shedding 1.2%
In Qatar, the index eased 0.6%, pulled down primarily by financial stocks, and posted a weekly loss of 1.6%.
The Gulf's biggest lender Qatar National Bank and Qatar Islamic Bank fell about 1% each.
Outside the Gulf, Egypt's blue-chip index gained 0.5%, helped by a nearly 1% gain in Commercial International Bank (CIB), the country's largest private bank.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Ramakrishnan M.) ((firstname.lastname@example.org; +91 (0)8061822683;))