BANGALORE: Major Gulf stock markets fell on Thursday as investors maintained a risk-averse approach amid heightened geopolitical tensions and uncertainty surrounding a third round of U.S.-Iran nuclear talks set to take place in Geneva later in the day. Saudi Arabia’s benchmark stock index  dropped 1.3%, marking its second consecutive week of decline. Losses were broad-based, led by energy stocks, with Saudi Aramco dropping 3% — its steepest one-day decline in nine months — after the company confirmed damage at its Juaymah terminal and subsequent delivery cancellations. Al Rajhi Bank, the world’s largest Islamic lender, fell 1.4%, and Saudi National Bank, the country’s largest lender by assets, dropped 1.7%. Reuters reported that Saudi Arabia is ramping up oil production and exports as part of contingency measures to mitigate potential disruptions from a U.S. strike on Iran. The robust non-oil economic sector could aid a market rebound if geopolitical tensions subside, according to George Pavel, general manager at Naga.com Middle East. Dubai’s main stock index retreated 0.8%, weighed down by banking and real estate stocks. Emirates NBD Bank plunged over 4%, marking its worst daily performance in more than three months, while Emaar Properties , a leading real estate developer, fell 1.2%. On Wednesday, the UAE’s Central Bank unveiled plans to establish a sovereign financial cloud infrastructure in collaboration with G42 subsidiary Core42. Abu Dhabi’s index edged 0.4% lower, extending a cautious trading pattern after two flat sessions. The market remained near historical highs as investors awaited clearer regional developments. Alpha Dhabi Holding and Aldar Properties both dropped 0.4%. However, strong fourth-quarter corporate earnings in Abu Dhabi and a positive economic outlook could provide upward momentum once geopolitical risks subside, though oil price fluctuations remain a key concern, said Pavel. Bloomberg News reported that Shell is in talks with ADNOC and others regarding the sale of its stake in an Australian LNG project. Qatar’s stock index tumbled 1.9%, marking its steepest single-day decline since mid-June, with all sectors closing in negative territory. Shares of Qatar National Bank , the region’s largest lender, dropped 3%, representing its biggest single-day loss in over five months. Qatar Aluminum Manufacturing Co sank 3.5%, its largest one-day drop in nearly 11 months. Outside the Gulf, Egypt’s blue-chip index gained 0.4%, seeking to recover from Wednesday’s losses, as sentiment was bolstered by the IMF’s completion of two reviews of Egypt’s economic reform programme and a Resilience and Sustainability Facility (RSF) review, paving the way for disbursements of about $2.3 billion. Commercial International Bank , the country’s leading private lender, advanced 1.1%, while Telecom Egypt surged 3.4% after reporting a fourfold rise in its fourth-quarter profits. The Kuwait Bourse was closed on account of National Day and Liberation Day. Saudi Arabia dropped 1.3% to 10,709 Abu Dhabi eased 0.4% to 10,595 Dubai shed 0.8% to 6,625 Qatar dipped 1.9% to 11,055 Egypt added 0.4% to 49,213 Bahrain rose 0.1% to 2,061 Oman advanced 0.1% to 7,393