Qatar Exchange was slightly down 1.90 points or 0.02 percent to 8,283.13 points yesterday from the previous closing of 8,285.03.

Qatar Insurance shares dropped 0.56 percent to QR70.50, International Islamic lost 0.72 percent to QR48.50, Qatar Electricity and Water fell 1.09 percent to QR135.50 and Gulf International was down 0.77 percent to QR25.85. Among the gainers were Industries Qatar which was up 0.68 percent to QR133.90, Al Khaleej Takaful rose 1.10 percent to QR41.20, and Islamic Insurance gained 0.97 percent to QR62.40.

The banking and financial sector added 1.95 points, the insurance sector was down 7.65 points, the industrial sector gained 3.35 points and the services sector was up 1.45 points.

Meanwhile, Saudi Arabian petrochemical firms dragged down the bourse yesterday after Saudi Kayan, a unit of Saudi Basic Industries Corp, reported a widening quarterly loss.

Saudi Kayan dropped 6.4 percent to close at its lowest since July 2009. Its net loss for the second quarter surged to SR328.3m, according to a statement to the Saudi bourse.

This compares with a loss of SR16m in the year-earlier period. Investors fear Kayan’s losses are a weak indication for Sabic’s earnings.

Sabic shares fell 1.7 percent to their lowest close since March 2011. Saudi Arabian Fertilizers Company (Safco), also a Sabic unit, ended flat, a day after it reported below-forecast second-quarter earnings. The kingdom’s main index lost 0.6 percent, trimming year-to-date gains to 3.8 percent. Developer Dar Al Arkan slipped 1.1 percent, accounting for almost a third of all shares traded as investors lock in gains from Saturday’s 9.2 percent jump. It surged after the builder said it transferred $ 1bn to repay its Islamic bond, or sukuk.

In Egypt, the index dropped 2 percent. Investors fretted that President Mohammed Mursi’s delay in appointing a new government and the country’s other problems may hinder progress toward fixing the economy.

“Investors don’t see any clarity. There is a delay in appointing a prime minister and there are challenges to the constitutional committee in the courts,” said Hisham Halaldeen of Naeem Brokerage.

More than three weeks after having been declared winner of Egypt’s presidential election, Mursi has yet to name his prime minister or a government.

Real estate companies declined, with Palm Hills dropping 4.5 percent, Talaat Moustafa 3.3 percent and Amer Group 4.4 percent.

Emaar Properties ended at a 10-week high, up 1.6 percent, as investors bought ahead of its second-quarter earnings, helping lift Dubai’s bourse.

Three analysts polled by Reuters expect the developer to post an average profit of Dh516.3m ($ 140.57m), which would be a 106 percent increase on the year-earlier period. Dubai’s index climbed 0.8 percent. The benchmark has traded within a 75-point range over the past two months and is unlikely to break out of this pattern during a summer lull, with many investors on vacation.