Dubai's stock market rose on Tuesday after falling to five-year lows in the last few sessions, lifted by gains in some real estate shares, while weak global sentiment continued to weigh on other Gulf bourses.

Oil prices edged up, but overall sentiment towards crude prices remained weak on worries over global stock markets and doubts that supply cuts led by OPEC would be enough to rein in oversupply.

In Dubai, the index added 0.8 percent after hovering around five-year lows in the last four sessions. Emaar Properties gained 2.3 percent after saying it had started business development operations in China, while its unit Emaar Development increased 0.5 percent.

Islamic Arab Insurance continued to climb, rising 6.2 percent after Goldilocks Investment Company, a unit of the Abu Dhabi Financial Group, increased its ownership in the firm to 14.1 percent.

The Saudi Arabia index inched down 0.2 percent in its sixth straight day of losses, with its giant petrochemical maker Saudi Basic Industries  losing 1 percent and Saudi Arabia Fertilizers decreasing 0.7 percent.

But Saudi Advanced Industries Co advanced 4.7 percent after Saudi Arabian Military Industries offered to buy its stake in Alsalam Aerospace Industries for 100 million riyals ($26.66 million).

National Shipping Company of Saudi Arabia climbed 1.5 percent after it proposed an annual cash dividend of 1.5 riyals per share.

Qatar's index fell 0.8 percent, with Qatar Islamic Bank down 2.1 percent, while Industries Qatar lost 1.4 percent.

The Abu Dhabi index edged down 0.2 percent with Dana Gas slumping 2.3 percent and its largest lender First Abu Dhabi Bank slipping 0.3 percent.

(Reporting by Shakeel Ahmad and Abinaya Vijayaraghavan in Bengaluru; Editing by Jan Harvey)

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