Major Gulf markets gain

Major Gulf stock markets rose in early trade on Wednesday after Iran touted progress in nuclear negotiations with the United States, reports Reuters.

Iran's foreign minister said, after talks in Geneva on Tuesday, Tehran and Washington had reached an understanding on the main "guiding principles" for resolving their longstanding nuclear dispute - easing fears of a military conflict.

Oil prices were little changed in Asian trading after dropping about 2 per cent in the prior session, as investors stayed cautious about the chances of a final deal that could ease supply worries.

Saudi Arabia's benchmark index gained 0.2 per cent, on course to snap a three-day losing streak, helped by a 1.1 per cent rise in the country's biggest lender by assets Saudi National Bank.

Elsewhere, oil behemoth Saudi Aramco edged 0.2 per cent higher.

Dubai's main share index advanced 0.6 per cent, led by a 2.5 per cent gain in blue-chip developer Emaar Properties and a 3.2 per cent leap in budget airliner Air Arabia.

In Abu Dhabi, the index was up 0.3 per cent.

The Qatari index added 0.1 per cent, with the Gulf's biggest lender Qatar National Bank putting on 0.5 per cent.