Dubai's main share index (.DFMGI) rose 0.4%, with blue-chip developer Emaar Properties (EMAR.DU) rising 1.4%, while logistics firm Aramex (ARMX.DU) advanced 1.5%.
Dubai repaid $500 million in bonds due on Tuesday in what the government said was a sign of fiscal stability despite the coronavirus-driven economic downturn. read more
Elsewhere, DAMAC Properties (DAMAC.DU) finished 1.6% higher.
The founder of DAMAC has postponed efforts to take the firm private after the securities regulator of the United Arab Emirates launched a review of the transaction, the company said on Tuesday. read more
Sajwani made a $595 million offer this month to buy out minority shareholders in DAMAC Properties, which he has run for nearly two decades. read more
Saudi Arabia's benchmark index (.TASI) traded flat, as gains in property shares were offset by declines in telecoms and financial shares.
Saudi Telecom Company (7010.SE) declined 1.8%.
The kingdom's Public Investment Fund is considering divesting part of its stake in Saudi Telecom, as the sovereign wealth fund seeks to monetise some of its assets. read more
In Abu Dhabi, the index (.ADI) eased 0.1%, pressured by a 0.5% fall in telecoms firm Etisalat (ETISALAT.AD) and a 1% slide in Abu Dhabi Commercial Bank (ADCB.AD).
The Qatari benchmark (.QSI) fell 0.1%, hit by a 1% fall in Qatar Islamic Bank (QISB.QA) and a 0.8% decrease in petrochemical maker Industries Qatar (IQCD.QA).
Outside the Gulf, Egypt's blue-chipe index (.EGX30) gained 0.7%, as most of the stocks were in positive territory including Abu Qir Fertilizers (ABUK.CA), which closed 2.5% higher.
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