Most Gulf stock markets fell on Thursday after a report that the ​United States was considering military ⁠strikes on Iran to try to break a deadlock in peace talks. U.S. President ‌Donald Trump will be briefed on Thursday on plans for strikes on Iran, U.S.-based digital news company Axios reported ​late on Wednesday.

The Abu Dhabi benchmark index dropped 1.2%, snapping a four-session winning streak, with nearly all ​sectors in negative ​territory. Losses were led by real estate and utilities stocks. Aldar Properties fell 4.5%, while NMDC Group declined 3.5% after reporting a 50% drop in first-quarter net profit, as higher ⁠logistics, insurance and fuel costs, along with project delays linked to regional geopolitical tensions, weighed on earnings.

BROAD-BASED LOSSES IN DUBAI

Dubai's benchmark stock index slid 1.6%, dragged down by broad-based losses. Blue-chip developer Emaar Properties dropped 4.4%, while toll operator Salik Company fell 2.8%.

"Markets in UAE recorded a correction ​as geopolitical concerns increased. ‌Over the long ⁠term, the country ⁠could benefit from its capacity to increase oil production after leaving OPEC if disruptions in the region abate," ​said George Pavel, general manager at Naga.com Middle East.

The Qatari benchmark ‌index declined 1.2%, with almost all stocks trading lower. Qatar National ⁠Bank, the region's largest lender, shed 0.9%, while petrochemicals conglomerate Industries Qatar dropped 1.7% after reporting a decline in first-quarter profit as sales volumes weakened, largely due to lower production and shipping constraints amid continued regional uncertainty.

Saudi Arabia's benchmark stock index eased 0.5%, pressured by losses in communications, real estate and financial stocks. Saudi National Bank, the kingdom's largest lender by assets, fell 1.6%, while Al Majed For Oud slumped 10%, its steepest percentage decline since listing in 2024, after the perfume maker posted a 9% drop in first-quarter net profit. However, gains in IT, ‌materials and energy stocks limited losses on the Saudi index.

Oil giant ⁠Saudi Aramco rose 0.7%, while National Shipping Company of Saudi ​Arabia, or Bahri , added 2.7% after the shipping firm reported a 303% jump in first-quarter net profit.

Outside the Gulf, Egypt's blue-chip index fell 1.1%, weighed down by a 3.7% drop in Fawry ​for Banking Technology and ‌a 2.2% decline in Commercial International Bank.

  • SAUDI ARABIA down 0.5% to 11,188
  • KUWAIT lost 0.6% to 9,382
  • QATAR down 1.2% to 10,488
  • EGYPT fell 1.2% to 51,761
  • BAHRAIN up 0.2% ⁠to 1,972
  • OMAN rose 1.2% to 8,369
  • ABU DHABI dropped 1.2% to 9,779
  • DUBAI down ​1.6% to 5,766

(Reporting by Md Manzer Hussain; Editing by Barbara Lewis and Shailesh Kuber)