DUBAI: Most major Gulf stocks closed lower on Thursday, with the Saudi bourse giving up early gains, while the Egyptian index extended its gains to a fourth day.

Saudi Arabia's benchmark index ended down 0.05% after gaining as much as 0.5% during the day. Oil company Saudi Aramco was down by 0.4%.

Losses were capped by gains at Al-Rajhi Bank and Saudi Electricity, which rose 0.3% and 3.5%, respectively.

Rabigh Refining And Petrochemical (Petro Rabigh) advanced 4.5% after it signed joint revolving loans and facility agreements worth 7.5 billion riyals.

Dubai's main share index lost 0.3%, with Emirates NBD Bank losing 1.4%

Trading in shares of Arabtec Holding, which has lost about 59% of its market value this year, remained suspended pending the outcome of resolutions from its shareholders meeting.

The Abu Dhabi index fell 0.6%, weighed down by a 0.9% drop in the country's largest lender First Abu Dhabi Bank and a 1.8% decline in aquaculture firm International Holding.

In Qatar, the index rose 0.2% as Qatar Islamic Bank gained 1.5%. Outside the Gulf, the Egyptian blue-chip index closed up 0.6% for its fourth straight day of gains.