DUBAI: Dubai shares reversed early losses to close higher on Tuesday, led by gains in property stocks, while other major markets in the Gulf region were little changed.
Dubai's main share index gained 1%, with blue-chip developer Emaar Properties rising 2.4% and its unit Emaar Development advancing 3.9%.
Elsewhere, Shariah-compliant lender Dubai Islamic Bank was up 1.9%.
Saudi Arabia's benchmark index lost 0.2%, driven down by a 1.6% decline in the kingdom's largest lender National Commercial Bank, while Jabal Omar Development slid 4.3%.
The developer on Monday posted a net loss of 465.2 million riyals ($124.04 million) in second-quarter, compared to a profit of 29.8 million riyals a year earlier.
In Abu Dhabi, the index slipped 0.3%, hurt by a 0.8% fall in Emirates Telecommunications and a 2% drop in Abu Dhabi Commercial Bank.
The Qatari index closed up 0.2%, with Qatar Islamic Bank rising 0.6% and Commercial Bank closing up 1.2%.
Industries Qatar, however, eased 0.1%, after hitting its highest level since Jan. 29 in the previous session.
On Sunday, the petrochemical firm bought Qatar Petroleum's 25% stake in Qatar Fertiliser Co for $1 billion, making it the 100% owner of the world's largest single-site urea producer.
Outside the Gulf, Egypt's blue-chip index rose 0.2%. Commercial International Bank gained 1.4%, while tobacco monopoly Eastern Company ended 1.7% higher.
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