BENGALURU - Most Gulf stock markets fell in early trade on Wednesday, tracking weaker Asian equities, ​as rising global ⁠bond yields and elevated oil prices fuelled inflation concerns, while investors remained ‌wary of the absence of a U.S.-Iran agreement.

A sell-off in global bond markets persisted as investors raised ​bets that the U.S. Federal Reserve may need to increase interest rates this year. Brent ​crude futures ​were down 0.5%, but were still above $110 a barrel, as the Strait of Hormuz remains closed.

U.S. President Donald Trump said he may need to ⁠strike Iran again, a day after saying he would postpone an attack to allow more time for negotiations. Meanwhile, Vice President JD Vance said the United States and Iran had made progress in talks, adding that neither side wanted a resumption ​of military ‌action.

Dubai's benchmark stock ⁠index fell 0.3%, ⁠with losses across most sectors. Emaar Properties shed 0.8%, while Emirates NBD, Dubai's largest lender, slipped 1.2%.

The ​Abu Dhabi benchmark index dropped 0.7%, pressured by telecom, ‌healthcare, and financial stocks.

First Abu Dhabi Bank, the ⁠UAE's largest lender, lost 2.2%, while Abu Dhabi Ship Building slid 1.2%.

Italian aerospace and defence group Leonardo signed a 320 million euro ($371.1 million) contract with ADSB, the naval arm of defence group EDGE, to provide naval combat systems for Kuwait.

Saudi Arabia's benchmark index declined 0.3%, with most sectors trading lower. Banque Saudi Fransi fell 3.8% and Arabian Internet and Communications Services dropped 4%.

However, Dar Al-Balad Business Solutions Co jumped 20.9% to 11.79 riyals on debut. The IT solution provider's ‌IPO was priced at the top of its range at ⁠9.75 riyals per share, raising about 205 million riyals.

The Omani ​benchmark index fell for a ninth straight session, sliding 3.3%, with nearly all stocks in negative territory. OQ Base Industries shed 8.2% and OQ Gas Networks lost 5.8%.

Qatar's ​benchmark index eased ‌0.2%, weighed down by a 1% decline in Vodafone Qatar ⁠and a 0.8% dip in Commercial ​Bank.

(Reporting by Md Manzer Hussain in Bengaluru; Editing by Eileen Soreng)