Dubais stock market has fallen for the second successive day on continuing fears about leading companies capacity to repay debts.

The principal Dubai Financial Market index fell 6.1%, after final down almost 6% on Monday.

Two weeks ago, the World of Dubai asked for a six-month delay on debt repayments. Credit agencies have since downgraded many leading Dubai companies.

The Dubai index has now fallen with more than 20% since the extension supplication.

Tuesdays plunge was led by real estate developer Emaar Projects, which fell by 9.8%.

One of Dubai Worlds first principal repayments to bondholders in its property firm Nakheel is due next week.

‘Up till there is some relief in debt restructure, there will not be any grave buyers (of shares),’ said Julian Bruce at EFG Hermes Holding in Dubai.

‘The closer we get to the Nakheel deadline with no news, the worse it will be.’

Dubai World has some esteemed priority, vastly its ports business, which includes Londons Tilbury Docks and Frances Le Havre.

Different items in its wide-ranging investment portfolio include the luxury retailer Barneys of New York, a list of high-end US hotels, and the Canadian acrobatic circus franchise, Cirque du Soleil.

bbc