Regional benchmarks have tumbled this week following unrest in the North African state that has left at least 140 people dead.

Markets in the United Arab Emirates rose on Tuesday to recoup some of their early week losses, but traders offered little hope for a convincing rally.

"Investors are still very tense in their investment decisions and affected by the developments in Egypt," said Mohammed Yasin, CAPM Investment chief investment officer.

"The fact our markets rebounded less than the drops earlier in the week hints that buyers are still not fully in and are booking profits (occurs) with every market-positive movement."

Dubai's index rose 0.6 percent to 1,544 points, rallying from Monday's 21-week low, but volumes slumped to an 11-day low and were barely a fifth of Sunday's total, indicating little buying interest.

Emaar Properties climbed 1.6 percent to 1,544 points, easing away from Monday's 33-week low, while telecoms operator Du added 2.7 percent.

"Egypt caused the fall in UAE markets, but stocks were already weak and don't look like they can sustain any uptrend," said Musa Haddad, head of MENA equity desk at National Bank of Abu Dhabi.

"I would wait to see if Dubai can end the week above 1,600. If this happens, it can recover, otherwise there will be further downside. We are below short- and long-term moving averages."

On the Nasdaq Dubai bourse, DP World fell 4.1 percent to a six-week low after the ports operator stopped activity as its Sokhna unit in Egypt.

"The Sokhna project doesn't contribute significantly to consolidated revenues and halting operations won't have an impact on my estimates for DP World for 2011 - it manages 50 ports across the world," said Kareem Murad, a SHUAA Capital analyst in Dubai.

In Abu Dhabi, Dana Gas dropped 1.6 percent after saying it would evacuate foreign staff if the political crisis in Egypt deepened. On Monday, the firm reported above-forecast fourth-quarter profit.

The Abu Dhabi index rose 0.5 percent 2,599 points.

National Bank of Kuwait (NBK) dropped 2.8 percent to a five-week low after the lender's fourth-quarter profit rose 20 percent, but fell short of analysts' estimates.

The Kuwaiti index fell 0.8 percent to 6,805 points.

Saudi Basic Industries Corp. (SABIC) and National Industrialization Co. (Tasnee) rose 1 and 3 percent respectively as petrochemical stocks led Saudi Arabia's index higher. The Tadawul All-Share Index (TASI) edged higher by 0.24 percent to 6,373.17 points.

The value of Saudi traded shares reached SR2.97 billion on Tuesday.

"Volumes are strong and show this market has the depth and breadth to absorb sustained selling pressure, which is giving people confidence," said a Riyadh-based trader who asked not to be identified.

"Sentiment will continue to drive the market based on what is going on in Egypt. Technicals and fundamentals aren't meaning as much. There is opportunistic buying in the market, but many investors are still seeking to reduce risk."

Saudi volumes hit a eight-month high on Saturday.

The Qatari index slipped 0.05 percent to 8,741 points.

The Omani index fell 0.4 percent to 6,809 points.

The Bahraini index rose 0.7 percent to 1,459 points.