Dubai, Feb 28, 2026, 12:16 (GST) — The market is done for the day.
Dubai stocks slumped into the weekend, with the Dubai Financial Market General Index dropping 1.8% to 6,503.50 points by Friday’s close. Risk sentiment dried up ahead of Monday’s open, as investors pulled back.
This time, it’s a bigger deal for Dubai, with banks and real estate dominating the market—two sectors quick to react to rate moves or geopolitical shocks. Trading is closed through the weekend, so investors have nothing but oil moves and security updates to go on when pricing Monday’s open.
Because the dirham is pegged to the U.S. dollar, interest rates in the UAE usually move alongside the Federal Reserve. Traders now look ahead to the key U.S. employment report, scheduled for March 6.
After U.S.-Iran nuclear negotiations in Geneva wrapped up without any resolution, sellers picked up the pace, rattled by talk that Washington might look at military options. Discussions will shift to the technical level next week in Vienna, according to a post. Emaar Properties tumbled 4.1%, marking its sharpest single-day drop in almost 10 months. Emirates NBD lost 5.2%, Dubai Islamic Bank shed 2.4%. Abu Dhabi’s index slid 1.3%, even as oil advanced close to 2%.
Thursday saw Dubai’s index give up 0.8%, with banks and property stocks slipping. George Pavel, general manager at Naga.com Middle East, pointed to the non-oil sector as a possible driver for recovery—if geopolitical risks cool.
This week, the benchmark dropped roughly 1.3%, slipping from 6,590.53 on Feb. 20. An early jump to 6,710.88 on Feb. 23 didn’t stick.
Dubai Financial Market PJSC shares closed at 1.61 dirhams on Friday, gaining 0.6% from the previous session.
This week saw oil swing sharply, underscoring its role as the main driver for Gulf risk trades. “Crude could give back part of its recent gains once tensions ease,” noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank. OPEC+ is scheduled to meet March 1, with expectations for a 137,000 barrel per day increase in April output. The National
A new risk surfaced over the weekend. Israel said it carried out a pre-emptive strike on Iran on Saturday, with a U.S. assault also in progress, according to Reuters, putting additional pressure on regional assets.
Dubai’s markets are set to reopen Monday, March 2. Oil prices will get the most attention from traders, with bank stocks not far behind as they look for any shifts in funding costs or property market appetite. The DFM operates Monday through Friday, main hours from 10:00 a.m. to 3:00 p.m. local time.
