Bank stocks helped support markets in the United Arab Emirates on Wednesday, while Egypt's blue-chip index extended losses for a third straight session.
Dubai's index edged up 0.1% supported by Emirates NBD and Emaar Malls, which were up 0.4% and 1.6% respectively.
Air Arabia closed up 1.4%, stretching its winning streak to a third day. On Monday, the budget airline announced an order for 120 Airbus A320neo-family jets in a deal worth about $14 billion.
However, the market's gains were capped by losses at real estate sector with Arabtec Holding falling 4.7%, the biggest loser on the index. On Friday, the contractor swung to a third-quarter loss, compared with a profit a year earlier.
In Abu Dhabi, the index was also up 0.1% with First Abu Dhabi Bank adding 0.3% and International Holding Company(IHC) soaring 8.9%, its biggest intraday gain since mid-October.
On Tuesday, IHC called off an acquisition of SHUAA Capital International.
Outside the Gulf, Egypt's blue-chip index lost 0.6%.
The country's largest lender, Commercial International Bank, dropped 1.6% and Madinet Nasr was down 2.2%.
However, the index received some support from Eastern Company which rose 0.9%.
Saudi's benchmark index rose marginally to close up 0.1% as Saudi Basic Industries gained 0.7% and Savola Group 2050.SE climbed 3%.
Arabian Centres advanced 2%. The Saudi mall operator obtained $1.4 billion in sharia-compliant financing facilities with a syndicate of banks.
The Qatari index traded flat with financial shares and petrochemical stocks moving sideways.
Qatar International Islamic Bank slid 3.2%, while Mesaieed Petrochemical gained 1.2%.
(Reporting by Ateeq Shariff in Bengaluru; Editing by Pravin Char) ((AteeqUr.Shariff@thomsonreuters.com; +918067497129;))