Dubai: Stock markets in the Gulf ended lower ​on Wednesday, as caution over the continued closure of the Strait of ‌Hormuz outweighed U.S. ​President Donald Trump's move to indefinitely extend the ceasefire with Iran.

Dubai's main share index fell 1.1%, with most stocks ending in negative territory. Blue-chip developer Emaar Properties declined 2.2%, while Emirates NBD, Dubai's ‌largest lender, dropped 1.8%.

In Abu Dhabi, the index lost 0.8%, ‌weighed down by broad-based declines led by real estate stocks. First Abu Dhabi Bank, the ‌UAE's largest lender, fell 2.6%, conglomerate Alpha ‌Dhabi retreated 1.4%, and Aldar Properties slid 1.8%.

On Tuesday, Aldar said it had acquired, together with Mubadala, "The Link" at Masdar ​City for 654 million dirhams ($178.06 ‌million). Saudi Arabia's benchmark index ​extended losses for a fifth straight session, falling ⁠0.9%, with almost all constituents in the red. Al Rajhi Bank lost 2%, while ACWA Power dropped 2.2%.

Oil giant Saudi Aramco, however, bucked the trend to rise 0.4%. Oil prices ​climbed after reports ⁠of attacks in ⁠Hormuz, with Brent crude futures up 1.2% at $99.56 a barrel.

The Qatari index edged down 0.1%, as Qatar National Bank, the region's largest lender, fell 1.5% and Qatar Navigation lost 1.2%. Qatar ⁠Gas Transport rose 1.1% after reporting higher first-quarter net profit.

"Stock markets were under some pressure as investors consider the uncertain geopolitical outlook after diplomatic progress stalled in the region," said Milad Azar, market analyst at XTB MENA. "While current conditions could continue to weigh on sentiment, the earnings season could help alleviate the pressure. Strong earnings could help stabilize ‌the market, in addition to the solid local fundamentals," he added.

Outside the Gulf, Egypt's blue-chip index was little changed ​as Commercial International Bank fell 2%, while Eastern Company gained 2.8%.

SAUDI ARABIA down 0.9% to 11,245

KUWAIT down 0.4% to 9,451

QATAR lost 0.1% to 10,678

EGYPT ended flat at 51,962

BAHRAIN ended flat at 1,934

OMAN down 0.4% to 8,193

ABU DHABI dropped 0.8% to 9,786

DUBAI fell 1.1% to 5,816 ($1 = 3.6730 UAE dirhams)