UAE markets resume gain as bargain hunters return

Bargain hunters help UAE markets resume gains after a sharp correction in the previous session, while Qatar's bourse falls to a six-week low.

Dubai's Air Arabia rises 1.9 percent, accounting for a third of all shares traded. Emaar Properties adds 0.8 percent, recovering losses from the previous session as investors sold on dividend disappointment.

Dubai's measure climbs 0.6 percent to 1,936 points, up 19.3 percent year-to-date. The index lost 1 percent on Tuesday.

Banks and real estate stocks rise on the UAE capital's index. Abu Dhabi Commercial Bank gains 2.8 percent. The lender raised $1.5 billion through a new dual-trache bond issue.

First Gulf Bank rises 1.1 percent. Sorouh Real Estate advances 2.1 percent.

In Doha, Commercial Bank of Qatar falls 9.4 percent after it goes ex-dividend on a QAR6 per share payout.

National Leasing Holding drops 6 percent, also ex-dividend.

Doha's benchmark declines 0.8 percent to 8,509 points, reaching its lowest since January 15.

Elsewhere, Oman's measure gains 0.2 percent to 5,973 points and Kuwait's benchmark rises 0.2 percent to 6,425 points, resuming trade after a three-day public holiday.