DFM climbed 2.6 per cent, despite posting a 48 per cent decline in second-quarter profit, according to Reuters calculations. DFM chairman Essa Kazim said he was hopeful about the outlook for the rest of the year because volumes and values improved in the quarter.
Emaar Properties rose 2 per cent and Aramex surged 5.5 per cent.
The index jumped 1.1 percent to 1,756 points.
"Dubai will face resistance at 1,760 points," says Nadim Jalad, a trader at Naeem Shares and Bonds in Dubai.
Asian stocks are at a 2009 high in Monday trading, while oil is up 1.1 per cent at $64.28 (Dh236) a barrel.
"The correlation between our markets and global equities and oil will remain very high," says Hashem Montasser, EFG-Hermes managing director and head of regional asset management.
Meanwhile, First Gulf Bank weighed on Abu Dhabi's index, offsetting gains in property stocks.
Shares in FGB, which is heavily weighted on the Abu Dhabi bourse, plunge 8 per cent although volumes are slight, with 20,000 shares traded.
Aldar Properties and Sorouh Real Estate climbed 1.9 and 2.4 per cent respectively, while RAK Properties added 1.4 per cent. Together, this trio account for two-thirds of all shares changing hands.
Emirates Telecommunications Corp (Etisalat) fell 0.5 per cent after reporting a 19-per cent drop in second-quarter profit this week.
"If Gulf sentiment is not negative, then it should be because there are many unknowns still out there," says Keith Edwards, head of asset management at Doha-based investment company The First Investor.
"Volumes will be insufficient to keep the market frothy and sentiment will deteriorate."
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