Gulf markets are steady shrugging off concerns from Iran's oil ban but Qatar dips for a sixth straight session.

Doha's index slips 0.2% to 8,395 points as banks extend declines after proposed dividends disappointed investors. Doha Bank falls 1.6%, Qatar Islamic Bank sheds 0.4% and Masraf Al Rayan declines 0.3%.

A Doha based trader said that "We were expecting a small reversal in order for the funds to flow to places where there is more value. Foreign investors are selective on the specific markets and I believe with almost 500 points down from the beginning of the year, Qatar is looking very attractive."

Elsewhere, Dubai's Emaar Properties and Commercial Bank of Dubai gain 1.6% and 2.8% respectively. The emirate's index rises 0.7% to 1,349 points up for a third straight session as investors fish from the bottom.

Oman's National Bank of Oman ticks up 0.3% after the lender's Q4 net profit rose 25.5% but results missed analysts' forecasts. Muscat's index eases 0.08% to 5,593 points.

Abu Dhabi's property stocks jump with Aldar Properties up 6% and Sorouh Real Estate up 5.3%. The index is near flat, edging up 0.07% to 2,354 points.

The European Union agreed to ban Iran oil and some Iranians warned they might strike US targets worldwide if Washington used force to break any Iranian blockade of the strategically vital shipping route, Strait of Hormuz.

(Sourced from Reuters