Dubai’s main share index (.DFMGI) – which traded after a four-session break – gained 1.3%, driven by a 3% jump in blue-chip developer Emaar Properties (EMAR.DU) and a 1.7% increase in Emirates NBD Bank (ENBD.DU).

Saudi Arabia’s benchmark index (.TASI) added 0.2%, helped by a 0.8% rise in Dr Sulaiman Al-Habib Medical Services (4013.SE).

Among other gainers, Etihad Etisalat Company (7020.SE) advanced 2.4% a day before trading ex-dividend.

In Qatar, the index (.QSI) rose 0.2%, with petrochemical maker Industries Qatar (IQCD.QA) putting on 0.8% and Qatar Gas Transport Nakilat Co (QGTS.QA) climbing 1%.

In Abu Dhabi, the economy of which is mostly reliant on oil, the index (.FTFADGI) traded 0.1% lower as the commodity slipped.

Oil – a key catalyst for the Gulf’s financial market – fell as concerns about a global economic slowdown and possible further interest rate hikes from the U.S. Federal Reserve weighed on prices, offsetting forecasts of tighter supplies and OPEC+ output cuts.