Things have not been turning easy for Aldar Properties as it plunged to a four-week low in the midst of uncertainty over Dubai World's $22bn debt restructuring. Shares of the developer declined 5.1 per cent to see the lowest level since December 13.

Rival Sorouh Real Estate too lost 4.4 percent and Aabar Investments plunged 3.2 per cent in the recent trading. Ali Khan, Managing Director and Head of brokerage at Arqaam Capital, said, "After kick-starting the year pretty optimistically, Dubai World's restructuring is weighing on the (UAE) market."

Abu Dhabi's index fell 1.1 percent to a moth low of 2,729 points while Dubai's index witnessed its lowest level since December 14 declining 2.1 per cent to 1723.

Shares of Ahli United Bank climbed 1.4 percent at the Kuwait listing while remained flat at the Bahrain listing. Qatar National Bank failed to attract investors despite reporting a 65 percent rise in fourth-quarter profit. Stocks of QNB declined 1.45 percent in light volume on the bourses.

Mohamed Abu Ghoush, head of equities brokerage at Ahli Bank, observed, "(QNB's results) will be a leading indication for the banking sector overall, it will support the level of confidence in banks and the market overall."