Jan 3 Reuters Stock markets in the United Arab Emirates were subdued on Friday, with Dubai39;s index retreating due to profittaking and a lateweek selloff, while Abu Dhabi39;s index stabilized after the previous session39;s decline.

Dubai39;s main share index slipped 0.5 for the second straight day, dragged down by declines in financials and property stocks. Emirates NBD Bank led the losses, falling 2.4, while bluechip developer Emaar Properties shed 0.7.

Dubai39;s stock market retreated as investors locked in profits, following a recent surge in gains and momentum. The majority of sectors declined, according to Samer Hasn, Senior Market Analyst at XS.com.

Abu Dhabi39;s main share index  which ended 2024 in the red closed flat, as gains in consumer and material stocks were offset by declines in financials.

ADNOC Drilling and Lulu Retail Holdings rose 1.9 and 2.6 respectively. The retailer opened two new express stores in the Kingdom last week, bringing its total store count to 59.

Meanwhile, the country39;s largest lender, First Abu Dhabi Bank, fell 0.7 while conglomerate Alpha Dhabi Holding dropped over 1.

Abu Dhabi stocks traded sideways on Friday, with major heavyweights posting mixed results. However, a rebound in oil prices may lift the market in upcoming sessions, according to Samer.

ABU DHABI

 was flat at 9,323 points

DUBAI

 fell 0.5 to 5,127 points

Reporting by Shamsuddin Mohd in…