By Celine Aswad

DUBAI, March 30 (Reuters) - Most stock markets in the Gulf ended the week on a slightly positive footing on Thursday with Kuwait's index managing to rebound from heavy losses earlier in the session.

The Kuwaiti index .KWSE swung 0.3 percent in a volatile session, after dropping as much as 2.0 percent earlier in the day as some shares which had pulled back in the first hour of trade triggered buy orders at those price dips.

Telecommunications operator Zain ZAIN.KW added 1.1 percent to 0.455 dinars, rebounding from a session low of .445 dinars.

In a Reuters poll of 13 leading regional fund managers, conducted over the past week, 23 percent of managers expected to raise their Kuwaiti equity allocations and the same proportion to reduce them.

But while some managers cite the Kuwaiti government's strong financial position, which has allowed it to avoid most austerity steps, others think the 22 percent rise in the index since the start of the year is excessive.

In Saudi Arabia, banking shares helped carry the index .TASI 0.8 percent higher with all 12 lenders advancing 1 percent or more. Mid-sized Bank Aljazira 1020.SE was the top gainer among them, jumping 7.8 percent.

Other cyclical shares were also strong with bookstore and electronics retailer Jarir 4190.SE jumping 3.1 percent.

Yanbu National Petrochemical 2290.SE , however, fell 0.4 percent after saying it planned a temporary shutdown at two of its facilities. The financial impact was estimated to be 110 million riyals ($29.3 million) and would be reflected in second- and third-quarter results, it added.

Elsewhere, Dubai's index .DFMGI climbed 1.0 percent with daily traded volumes doubling from Wednesday's very low levels.

Most mid-to-large cap companies made gains; Emaar Properties EMAR.DU adding 1.1 percent and its retail operating unit Emaar Malls Group EMAA.DU rising 1.5 percent.

In neighbouring Abu Dhabi, the index was lifted 0.2 percent higher on the back of gains in second and third tier shares. Eshraq Properties ESHR.AD jumped 4.9 percent.

But shares of First Gulf Bank FGB.AD and National Bank of Abu Dhabi NBAD.AD fell in their final day of trading as a separate entity. FGB declined 0.4 percent and NBAD dropped 1.9 percent. On April 1 the two lenders will merge to form a bank under the name National Bank of Abu Dhabi.

Shares of Waha Capital WAHA.AD slumped 7.6 percent as its they went ex-dividend on Thursday.

In Doha, the index .QSI lagged behind and fell 0.3 percent. Vodafone Qatar VFQS.QA lost 1.4 percent.

Egypt's index .EGX30 edged up 0.1 percent in very low volumes with declining shares outnumbering advancing ones 20 to nine.

Oriental Weavers Carpet ORWE.CA was the top performer on Thursday jumping 4.7 percent while property investment company Porto Group PORT.CA was the worst performer, dropping 3.7 percent.



THURSDAY'S HIGHLIGHTS



SAUDI ARABIA



* The index .TASI added 0.8 percent to 7,002 points.



DUBAI



* The index .DFMGI rose 1.0 percent to 3,480 points.



ABU DHABI



* The index .ADI edged up 0.2 percent to 4,444 points.



QATAR



* The index .QSI fell 0.3 percent to 10,391 points.



KUWAIT



* The index .KWSE added 0.3 percent to 7,029 points.



EGYPT



* The index .EGX30 edged up 0.06 percent to 12,995 points.





OMAN



* The index .MSI edged down 0.05 percent to 5,550 points.



BAHRAIN



* The index .BAX fell 1.8 percent to 1,356 points. (Editing by Andrew Torchia/Mark Heinrich) ((andrew.torchia@thomsonreuters.com)(+9715 6681 7277)(Reuters Messaging: celine.aswad.thomsonreuters.com@reuters.net))