Eyes were firmly fixed on DP World as shares in the company breached two-year highs after it sold a $1.5 billion stake in its Australian unit to repay debt.
Shares in the Dubai-controlled container terminal operator climbed 6.3 per cent to 64 cents on Dubai's second bourse, NASDAQ Dubai. It gives the company a market value of $10.6 billion.
DP World plans to use the proceeds to repay borrowings.
The Dubai Financial Market (DFM) General Index closed 0.1 per cent down to 1,623.83 points and the Abu Dhabi Securities Exchange (ADX) crept 0.05 per cent higher to 2,699.73 points.
"I don't think that the sale of the unit has affected the [DFM and ADX]," said Ameed Kanaan, general manager at Al Jazeera Financial Services.
"Our market is already tired and very weak and not much news can change this," he said.
Mr Kanaan said local markets were even more susceptible to profit-taking on heavyweight stocks such as Emaar Properties.
The builder of the world's tallest skyscraper dropped 1.4 per cent to Dh3.44, the third consecutive daily loss in the company's share price.
Building contractor Arabtec also slipped 1.02 per cent to Dh1.95, though Deyaar Development bucked the trend as it gained 1.01 per cent to 39 fils.
In the capital, banking stocks lagged as National Bank of Abu Dhabi lost 0.8 per cent to Dh11.65 and RAK Bank fell nearly 6 per cent to Dh4.6.
Elsewhere in the market; Qatar fell 0.1 per cent to 8,654.57 points, Kuwait rose 0.7per cent to 6,865.80, Bahrain lost 1.1 per cent to 1,408.07, Oman gained 0.1 per cent to 6,718.81 and the Saudi Tadawul All-Share Index moved down 0.3 per cent to 6,588.40.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score):
Manchester City (0) v Tottenham Hotspur (1), Wednesday, 11pm UAE
Match is on BeIN Sports
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MATCH INFO
UAE Division 1
Abu Dhabi Harlequins 12-24 Abu Dhabi Saracens
Slow loris biog
From: Lonely Loris is a Sunda slow loris, one of nine species of the animal native to Indonesia, Malaysia, Thailand and Singapore
Status: Critically endangered, and listed as vulnerable on the International Union for Conservation of Nature red list due to growing demand in the global exotic pet trade. It is one of the most popular primate species found at Indonesian pet markets
Likes: Sleeping, which they do for up to 18 hours a day. When they are awake, they like to eat fruit, insects, small birds and reptiles and some types of vegetation
Dislikes: Sunlight. Being a nocturnal animal, the slow loris wakes around sunset and is active throughout the night
Superpowers: His dangerous elbows. The slow loris’s doe eyes may make it look cute, but it is also deadly. The only known venomous primate, it hisses and clasps its paws and can produce a venom from its elbow that can cause anaphylactic shock and even death in humans
The Kingfisher Secret
Anonymous, Penguin Books
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
Spider-Man: No Way Home
Director: Jon Watts
Stars: Tom Holland, Zendaya, Jacob Batalon
Rating:*****