Gulf stock markets rose on Tuesday, led by Dubai, as firmer oil prices and stronger Asian bourses encouraged Gulf investors to buy shares back after heavy sell-offs in the past several days.

Dubai's index, which had plunged 11 per cent over the three previous sessions, finished 4.6 per cent higher though the trading volume was only moderate, suggesting many investors remained cautious.

Real estate shares in particular were bought back, with blue chip Emaar Properties up 3.4 per cent and Damac Properties surging 7.7 per cent.

Some speculative shares favoured by local retail investors soared; Amlak Finance jumped its daily 15 per cent limit and builder Arabtec gained 9.8 per cent.

Abu Dhabi's market rose 1.6 per cent, buoyed by Aldar Properties' 7.0 per cent gain.

Qatar's index was up 2.8 per cent in a broad rally with the most heavily traded stock, Vodafone Qatar, climbing 4.2 per cent.

Most fund managers are unwilling to say Gulf markets have bottomed, however, as long as oil prices haven't established a clear floor. – Reuters