DUBAI: Most stock markets in the Gulf were lower on Thursday as simmering geopolitical tensions in the Middle East kept investors on the sidelines.

Israeli strikes pounded Beirut’s southern suburbs on Wednesday and Hezbollah said it fired precision guided missiles for the first time at Israeli targets, as US Secretary of State Antony Blinken toured the region, pushing for a halt to fighting in both Gaza and Lebanon.

Israeli strikes were also reported to have hit the Syrian capital Damascus early on Thursday.

Saudi Arabia’s benchmark index eased 0.1%, with the country’s biggest lender Saudi National Bank losing 0.6% and Alinma Bank was down 1.2%.

The Saudi index posted a weekly loss of 0.2%.

Separately, the kingdom attracted foreign direct investment inflows of 96 billion riyals ($25.6 billion) in 2023, beating official targets, according to government data based on a new calculation methodology.