UAE bourses fall on post-dividend selling

UAE indexes fell for the third session running, as selling in ex-dividend stocks outweighed gains in other blue chips.

The Dubai benchmark slipped 0.27 per cent, while the Abu Dhabi measure lost 1.87 per cent, its largest one-day reverse for more than four weeks.

Emirates Telecommunications Corp (Etisalat) was the biggest decliner, ending 4.9 per cent lower after passing its March 31 dividend date. The same was true for Air Arabia in Dubai, which plummeted 9.4 per cent to wipe out most of its gains of the previous two weeks.