Shares on local exchanges fell on Tuesday, mainly on fears over prospects in the banking and property sectors.

The declines follow the release of a report by Morgan Stanley, which stated that 'UAE property prices have fallen off a cliff'. The Dubai Financial Market’s general index fell 1.26% to 1,454.33 and the Abu Dhabi Securities Exchange fell 2.2%, dropping for the fourth consecutive session to close at 2,145.46.

The National