Dubai's index DFM closed at 1.5 percent higher to 2,040 points - its highest close since June 17, the credit of which goes to Emaar Properties.

Saad Al Chalabi, a technical analyst for institutional equities at Al Ramz Securities in Abu Dhabi, informed, "The diversification (of buying) shows that people are looking for exposure to the index as a whole because it is so underpriced."

A rally that commenced on 3rd September is promoted by the Emaar's gains.

Etisalat, which climbed 3.4 percent, led to the latest 10-month high hit by Abu Dhabi's benchmark ADI.

A gain by 1.4 percent to 3,059 points was witnessed by the Abu Dhabi bourse.

Al Chalabi, said: "Institutions are aggressively buying across the board, with Abu Dhabi starting first and Dubai following."

While Index heavyweight Qatar National Bank closed up 0.5 percent, Banks led Qatar's index QSI 0.5 percent higher to 7,099 points.

Meanwhile, a fall by 0.2% was seen in Bahrain's index BAX, due to United Gulf Bank which lost 2.2 percent.