Abu Dhabi and Dubai stocks bounced back from the last session’s drop, following the lead set by global markets that looked upward after a drop in US bond yield guided investors towards more risky but higher-gain equity assets.

The UAE rally was led by the banking stocks in contrast to their performance on Tuesday when they played the biggest drag on the indexes.

Abu Dhabi Securities Exchange traded 0.4 higher at 6,045 points with First Abu Dhabi Bank providing the single-biggest impetus and Abu Dhabi Commercial Bank joining the list of gainers. The banks and other stocks in GCC markets and globally have seen volatility in recent trading sessions as investors lacked guidance towards a particular direction ahead of first-quarter earnings.