Stock markets in the United Arab Emirates wobbled Monday, with Dubai’s index closing almost flat in the green area, bolstered by shares in developer Emaar, while shares on the Abu Dhabi bourse extended loss for the second session in a row, smacked by a wider profit-taking streak on blue-chips stocks.

The Dubai benchmark stock index, DFMGI, ticked up 0.08% or 3.87 points to 4763.02pts, but it is still off its six year-high, it touched on Thursday.

“Profit-taking was running its course in Dubai Monday, but shares in Emaar boosted the index in the session’s last moments,” said Nedal Khouly, head of gulf research in Nemma Investment.

Shares in Emaar, the biggest relative weight in the index, climbed 0.49%, lifting the real estate sector index 0.17%, while Arabtec shed 0.29% in a strong trade.

The banking sector index dropped 0.37%, hit by shares in Emirates NBD, which dipped 0.5%, while Dubai Islamic Bank closed flat.

“We could see more profit-taking Tuesday, with investors booking gains from shares in real estate sector, which could be the main drag,” Khouly added.

Gulf Finance House shed 1.64% on selling-pressure, after the stock rallied 3.92% Sunday, with the company announcing selling its stake in Leeds United.

Dubai National Insurance was the best performer, gaining 9.82%, while National General Insurance was the worst, dropping 9.42%.

Union Properties was the most active by volume, while Arabtec was the most active by value.

Turnover hit AED 1.49 billion, while volume stood at 519.8 million shares.

Elsewhere, shares on the Abu Dhabi bourse declined for second consecutive session, as investors continued to book gains on most of blue-chips stocks in banking and property sectors.

ADX, the main benchmark stock index, lost 0.56% to 5134.22 points, but it is still at multi-year high, its peak since January 2006.

“Aldar, First Gulf Bank, and Etisalat were the main drag Monday, with investors extending profit-taking from these stocks,” said Ramy Rashad, a senior technical analyst at Mubasher Financial Service.

The property sector index lost 1.34%, dragged lower by shares in Aldar, which plunged 1.64%, while Rak properties advanced 1.38%.

Meanwhile, shares in First Gulf Bank, the biggest relative weight in the index, shed 0.86%, weighing on the banking sector index which dipped 0.26%.

Heavyweight Etisalat lost 0.43%, serving as another drag reason Monday.

Turnover came in AED 1.14 billion, through the trade of 392.4 million shares.

“We could see the market resuming its rally Tuesday on the back of banks-related stocks,” said Rami Sidani, a senior analyst at Schroders.