Dubai: Dubai index witnessed buying in selective stocks in last hour of trade, triggering a recovery on the gauge, a pattern of trading seen in the last three sessions.

The Dubai Financial Market General Index closed 0.12 per cent higher at 3,494.30, recovering from a low of 3,473.99.

“We have been witnessing a pattern in the market of late. We see late session buying, which lifts the market back up to previous close,” Shiv Prakash, senior analyst at National Bank of Abu Dhabi Securities.

Stocks like Dubai Parks and Resorts, Dar Al Takaful, Emaar Properties witnessed late buying.

“Dubai Parks and Resorts witnessed strong support and traders may look to add further for the higher targets of Dh1.77,” Prakash said.

Aramex, which closed 2.25 per cent higher at Dh4.09, has been continuing the upmove and target Dh4.6 in the medium term, Prakash said.

Dubai Parks and Resorts closed more than a per cent higher at Dh1.65. Dar Al Takaful may target resistance at Dh1.18, said Prakash, adding Gulf Navigation may witness bullish breakout at Dh1.18/1.35. The movement in Dar Al Takaful can be considered as an initial push towards resistance of Dh1.10/1.18 in the short term, said Prakash. Out of a total of 33 stocks traded on the exchange, shares of 17 firms fell, while other 11 rose.

Abu Dhabi Securities Exchange index has been trading in a range for the past 19 sessions amid very low volumes.

The Abu Dhabi Securities closed 0.10 per cent lower at 4,495.13, after trading in the range of 4,482-4,513.

“The index may continue to move in a range in coming sessions, until it breaks out from the defined range of 4,480-4,580,” said Prakash.

Eshraq Properties closed more than 1 per cent lower at Dh0.79. Ras Al Khaimah co for White Cement closed 1.77 per cent higher at Dh1.15.

Out of a total of 32 stocks traded on the exchange, shares of 9 firms each fell and rose, while other 14 remained unchanged.

Tadawul index closed flat at 6.071.16, while Qatar exchange index closed 0.57 per cent higher at 11,261.51. “We did see buying from lower levels, but still the main trend is down as trades below the 14, 21 and 50 day moving averages. Only a close over 6200 shall form the bullish reversal,” Prakash said.

“Qatar Index took support at 11070, heading back up towards the previous high at 11408‎ and a break over shall target 11800 in the short term,” he added. Elsewhere in the region, Kuwait Stock Exchange index closed 0.12 per cent lower at 5,404.70, while Muscat Securities MSM 30 index closed 0.51 per cent lower at 5,779.60.Bahrain bourse all share index closed 0.31 per cent lower at 1,135.81.