Dubai’s measure recovers losses after a sharp sell-off in the previous session, while Qatar’s bourse falls from a three-week high as stocks trade post-dividends.
Shares in Emaar Properties advance 0.6 percent, extending 2013 gains to 44.5 percent. The developer has outperformed Dubai’s benchmark, which is up 17.2 percent.
A tentative recovery in property prices helped lift buying interest in Emaar, especially from foreign investors. The firm said on Monday its revenues from sale of apartments more than doubled in 2012, while commercial unit sales are still struggling.
Budget carrier Air Arabia and contractor Arabtec add 0.2 and 0.5 percent respectively.
Dubai’s measure climbs 0.5 percent to 1,902 points, up for a second session in last five.
In Doha, heavyweight Industries Qatar sheds 0.9 percent, down after reaching ex-dividend date.
Gulf International Services falls 3.4 percent, also trading post-dividend.
Commercial Bank of Qatar (CBQ) bucks the downbeat trend and adds 0.3 percent. CBQ agreed to buy a 70.8 percent stake in Turkish lender Alternatifbank.
The benchmark slips 0.4 percent to 8,580 points, easing away from Monday’s three-week high.
Elsewhere, Oman’s benchmark slips 0.1 percent to 6,144 points, while Kuwait’s index climbs 0.2 percent to 6,801 points.
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