And Egypt's EFG-Hermes rose after the lender said it would to buy a majority stake in privately-owned Lebanese rival, Credit Libanais, helping the Cairo index end a four-session losing streak.

EFG added 2 percent as Egypt's benchmark climbed 1.5 percent. Other Middle East indexes moved less than 1 percent in lackluster trade. 

NBK ended at 1.32 dinars, its highest finish since Nov. 30, 2008.

"NBK's results were positive and so investors could be buying the stock to participate in the rights issue," said Naser Al-Nafisi, general manager for Al-Joman Center for Economic Consultancy in Kuwait. 

The rights issue, which was approved in March, will raise $113 million and is priced at 0.5 dinar, a significant discount on Tuesday's closing price, although this is likely to fall after dilution.

In July, NBK reported a 10 percent rise in second-quarter profits.

The Tadawul All-Share Index (TASI) made a slight gain on Tuesday and ended at 6,161.76 points, up.06 percent. The sector activity for the day was mixed with seven sectors closing with gains and 8 sectors closing with losses, the Financial Transaction House (FTH) said in its daily market commentary.

Gains ranged from 0.26 percent in the Building & Construction sector and 0.69 percent in Petrochemical Industries sector. On the other hand, the losses ranged from 0.26 percent by Telecommunication & Information Technology sector to 1.59 percent by the Hotel & Tourism sector. The overall market breadth for the day was negative with 51 advancers against 68 decliners giving it an AD ratio of 0.75.

Dubai's Emaar Properties and Emirates NBD rose 1.9 and 2.1 percent respectively. 

"Dubai is looking stable, but I wouldn't call it great and it should continue to move sideways," said Vyas Jayabhanu, head of investments, Al Dhafra Financial Broker. 

"Earnings were lukewarm, with some coming below expectations and others about average. There is no catalyst for investors to start picking up shares aggressively."

Dubai's index climbed 0.9 percent in its largest advance for two weeks, but this rise is unlikely to herald a shift from its sideways trading range.

"Markets should be flat to lower on nearly non-existent volumes," said a Dubai trader who asked not to be identified.

"What's happening is not a result of only Ramadan and summer holidays, it's more than that and is going to run until the end of year," the trader added, referring primarily to UAE bourses. 

Qatar's benchmark climbed 0.3 percent as 2.2 million shares were traded, barely a third of a 12-month daily average.

Industries Qatar rose 0.5 percent and Qatar Islamic Bank added 0.7 percent. Gainers topped losers 12 to two.

"Investors are building positions, particularly in banks, which is a good indicator for positive investor appetite," said Samer Al-Jaouni, general manager of Middle East Financial Brokerage Co.

Bank Muscat rose 0.5 percent to a two-month high, helping Oman's index end a four-session losing run. 

"It's a problem of liquidity in the market -- the investor base is very small, although some volumes are coming into Bank Muscat, Jazeera Steel and Voltamp Energy," said Joice Mathew, United Securities head of research. 

"People are hoping for a breakout in the market, but without increased volumes this wouldn't be sustained." 

Voltamp and Jazeera Steel climbed 2.2 percent and 0.3 percent respectively.

- With input from agencies