Regional markets were subdued, with bourses in many global markets closed for a long weekend.

"I wouldn't read too much into today's (Monday’s) movements - we tend to drift when there are holidays on global markets," said Matthew Wakeman, EFG-Hermes managing director for cash and equity-linked trading. "We've made a good bounce from the lows in the past month and a half and need new positive catalysts."

Saudi Basic Industries Corp. (SABIC) climbed 0.9 percent and Rabigh Refining and Petrochemical Co. rose 2.5 percent. Petrochemical producers' margins rise along with oil prices and crude hit a 31-month peak on Friday.

"People took advantage of yesterday's (Sunday’s) dip to buy back, mainly petrochemicals," said a Riyadh-based trader who asked not to be identified.

The Tadawul All-Share index (TASI) climbed 0.53 percent to 6,719.53, its first gain in three days to move within five points of Wednesday's 14-week high.

The stock market turnover reached SR4.83 billion.

"As long as the international news flow is positive, Saudi should continue to advance because Q1 numbers were good and oil is above $110," added the trader.

Dubai Investments Co. fell 2.7 percent to a month low after its first-quarter profit tumbled.

Dubai's index fell for a seventh session in eight, down 2.3 percent since a deadline to switch to a new delivery versus payment settlement system — the global standard — was extended to May 29. The Dubai index slipped 0.04 percent to 1,628 points.

UAE bourses must move to this system to be upgraded to emerging market status by MSCI. The index compiler will announce the results of its next review in June, so the delay leaves little time for brokers to give their feedback.

"It's more uncertainty around MSCI - delaying DvP is putting doubts in people's minds," added EFG's Wakeman. "This doesn't close the door, but it makes it a less of a positive than it was a week and a half ago."

The Abu Dhabi index rose 0.04 percent to 2,692 points.

Ominvest rose 6 percent to a two-year high after a local newspaper said discussions to float a bank unit were advanced. The firm owns a 51 percent stake in Oman Arab Bank.

The Omani index climbed 0.6 percent to 6,372 points.

Kuwaiti banks helped the country's index rise for a 10th session in 12, although volumes were concentrated in small-cap stocks, implying institutions were largely inactive.

National Bank of Kuwait and Commercial Bank of Kuwait rose 1.6 and 1.1 percent respectively. The bank index climbed 0.4 percent to a three-month peak. The Kuwaiti index climbed 0.1 percent to 6,517 points.

"Banks are still cheap and if provisions are now done with, they could make a huge jump in earnings," said a Kuwait trader who asked not to be identified.

The Qatari benchmark fell 0.3 percent to 8,514 points.

The Omani index climbed 0.6 percent to 6,372 points.

The Bahraini measure edged up 0.08 percent to 1,406 points.