Most stock markets in the Gulf fell in early trade on Monday, in line with subdued Asian shares and oil prices, though the Saudi index bucked the trend to trade higher.
Asian shares dipped as concerns about China's property sector and inflation worries offset upbeat U.S. data and positive news on new drugs to fight the coronavirus.
Brent crude was down 38 cents or 0.5% at $78.88 per barrel by 0750 GMT, ahead of a meeting by OPEC and its allies which may determine whether a recent rally in prices amid supply shocks and a recovery from the COVID-19 pandemic will be sustained.
In Abu Dhabi, the index lost 0.3%, with the country's largest lender First Abu Dhabi Bank dropping 1.2%, followed by Aldar Properties down 0.7%.
However, ADNOC Drilling shares extended gains to rise 1% after it surged over 28% in its debut on Sunday following a $1.1 billion initial public offering (IPO), the largest ever on the Abu Dhabi stock market.
Dubai's main share index declined 0.5%, weighed down by a 0.7% fall in Emirates NBD Bank and a 0.8% decrease in blue-chip developer Emaar Properties.
Expo 2020 Dubai, the huge world fair that opened last week, on Sunday revised up the number of worker deaths to six to include COVID-linked and construction-related fatalities but said it could not say whether more had died from other causes.
The United Arab Emirates government is expected to begin marketing its first bond as a federation as soon as this week, a transaction denominated in U.S. dollars, Reuters reported, citing four sources familiar with the matter.
Saudi Arabia's benchmark index gained 0.5%, with Al Rajhi Bank rising 1.8% and Saudi National Bank, the kingdom's largest lender, advancing 2%.
Elsewhere, the Qatari index eased 0.2%.
(Reporting by Ateeq Shariff in Bengaluru; Editing by Rashmi Aich) ((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))
