DUBAI, July 19 (Reuters) - Dubai's stock market rose on the back of strong bank earnings in early trade on Wednesday while most of the rest of the region was sluggish.

The Dubai index , which has been technically bullish since rising earlier this week above resistance on its April peak, climbed 0.5 percent.

Emirates NBD , Dubai's largest lender, gained 1.1 percent after it posted a 6 percent rise in second-quarter net profit to 2.02 billion dirhams ($550 million), at the high end of analysts' forecasts; three analysts had on average forecast 1.88 billion dirhams. Trade was very thin as the stock is tightly held.

Dubai Islamic Bank , the United Arab Emirates' largest sharia-compliant lender, rose 0.3 percent after posting a 14-percent increase in second-quarter net profit to 1.06 billion dirhams; EFG Hermes had projected 979 million dirhams and Arqaam Capital, 972 million dirhams.

Saudi Arabia's index edged down 0.1 percent in the first half-hour as Al Rajhi Bank , which went ex-dividend on Wednesday, slipped 1.1 percent.

But Alinma Bank surged 5.4 percent after reporting that second-quarter net profit came in at 488 million riyals ($130 million) versus 409 million riyals year ago; analysts surveyed by Reuters had on average predicted 417 million riyals.

Qatar's index rose 0.4 percent as Qatar National Bank , the largest bank, gained 2.9 percent to 140.90 riyals. It has now regained almost all its losses since it closed at 145.30 riyals on June 4, just before other Gulf Arab states imposed sanctions on Qatar.

Second-quarter earnings announced by QNB and other Qatari banks have suggested that so far the economic impact of the sanctions on Qatari lenders has been minor in terms of the drain on their deposits and effect on their bottom lines.

Qatar Islamic Bank , which analysts say is one of the banks most vulnerable to any pull-out of foreign deposits due to the diplomatic crisis, edged up 0.2 percent. Late on Tuesday it reported a 10-percent rise in first-half net profit and a 2-percent rise in deposits from the end of last year.

But Commercial Bank of Qatar dropped 2.0 percent after reporting a 58.4 percent slump in second-quarter net profit to 88.4 million riyals ($24.3 million); analysts had forecast 118.3 million riyals on average.

The decline, due to provisions for bad debt, was part of a dismal earnings run that began long before the diplomatic crisis. Chief executive Joseph Abraham said in April that provisions would remain high for the next few quarters.

(Reporting by Andrew Torchia; Editing by Andrew Heavens) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))