In Qatar, large-caps helped lift the index, recouping some of Monday’s losses as local investors returned to the market, with fundamentals overriding fears of a Greek default. “There is a lot of interest into (stock) weakness,” said Matthew Wakeman, EFG-Hermes managing director for cash and equity-linked trading. “There has been some institutional selling but demand locally is keeping it at current levels. There’s a good (economic growth) story there.” The index gained 0.5 percent to 8,334 points, as heavyweights Qatar National Bank and Industries Qatar climbed 0.5 percent each. Qatar’s robust economy is forecast to grow 16.7 percent in 2011. Saudi Arabia’s Tadawul All-Share Index (TASI) rose 0.52 percent to 6,068.92 points, rebounding from Monday’s three-week low, as steady oil prices during trading hours lent support to petrochemical stocks. “If the situation in the euro zone calms, investors should refocus on local fundamentals,” said Paul Gamble, head of research at Riyadh-based Jadwa Investment. “There’s a lot going on here. All the economic numbers are good ... The fundamentals are very solid.” Saudi Basic Industries Corp. (SABIC) gained 0.8 percent, while Alinma Bank led trading volumes and climbed 1.6 percent. Al-Rajhi Bank added 0.4 percent. In Egypt, the main index fell 1.6 percent to 4,539 points. “European markets suffered a steep fall yesterday and so that is part of the reason why the market is following that trend today,” said Hisham Metwalli, trader at Arab Finance Brokerage. Commercial International Bank fell 2.6 percent while Citadel Capital lost 3.2 percent. In Kuwait, logistics operator Agility jumped climbed 6.3 percent, gaining for a third day to hit a three-month high. A Kuwaiti newspaper said on Sunday that Agility may try to buy into the privatization of Kuwait Airways. The benchmark retraced Monday’s losses, gaining 0.5 percent to 6,008 points — a six-week high on bargain-hunting. “Funds and institutional (investors) are trying to benefit from the very low valuations - we hit the bottom recently with the lack of trading activity,” said Safaa Zbib, head of research at Kuwait and Middle East Financial Investment Co. The Omani index rose 0.3 percent to 5,693 points. The Dubai index edged up 0.03 percent to 1,461 points. The Abu Dhabi measure eased 0.01 percent to 2,584 points. The Bahrain index edged up 0.07 percent to 1,266 points.