Dubai's benchmark stock index (.DFMGI), opens new tab bounced back from the previous session of losses and rose 1%, with most sectors in the positive territory. Emirates NBD (ENBD.DU), opens new tab advanced 1.9% and Emaar Properties (EMAR.DU), opens new tab gained 1.1%.
Among other gainers, Takaful Emarat (TKFE.DU), opens new tab climbed 4.6% after the loss-making insurer announced on Monday a series of strategic measures to enhance its financial position, ensuring long-term business stability.
Saudi Arabia's benchmark stock index (.TASI), opens new tab was up 0.2%, with most of its constituents posting gains. Saudi National Bank (1180.SE), opens new tab, the kingdom's largest lender, added 0.7% and Saudi Chemical Holding(2230.SE), opens new tab climbed 7.8%. However, ACWA Power (2082.SE), opens new tab slipped 3%.
The utility firm, ACWA said it planned to raise 7.125 billion riyals ($1.90 billion) through a rights issue.
The Qatari benchmark index (.QSI), opens new tab was up 0.2%, helped by a 0.6% rise in Qatar National Bank (QNBK.QA), opens new tab, the region's largest lender, and a 1.5% gain in Qatar's Ooredo (ORDS.QA), opens new tab.
The Abu Dhabi benchmark index (.FTFADGI), opens new tab fell marginally with Abu Dhabi Commercial Bank (ADCB.AD), opens new tab sliding 1%, while Abu Dhabi National Energy (TAQA.AD), opens new tab rose 1.1%.
The power and water utility firm, TAQA, said it ended discussions on a potential cooperation agreement with Criteria Caixa and a possible acquisition of shares in Naturgy from CVC and GIP.
Investors are now waiting for the U.S. consumer price index data for May and the Fed's policy decision on Wednesday. The Fed is expected to hold rates steady and the focus will be on whether policymakers tweak their projections for rate cuts this year.
Most Gulf currencies are pegged to the dollar, and any U.S. monetary policy change is usually followed by Saudi Arabia, the United Arab Emirates and Qatar.
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