Riyadh – Mubasher: Saudi Stock Exchange (Tadawul) continued its bear run to the second straight day, shedding 0.35% or 24 points on Wednesday to close at 6,906 points.
The market was pressured by petrochemical industries sector that lost 2.9% after giant firm SABIC announced that profitability would be hurt by the kingdom’s decision to raise energy prices.
Wednesday’s turnover amounted to about SAR 5.7 billion, while traded volume exceeded 281 million shares exchanged in 136,000 transactions.
71 stocks moved higher, 92 others moved lower and 71 remained unchanged.
The petrochemical industries sector fell by 2.91% or 128 points.
SAFCO stock was the biggest decliner with a drop of 5.87% to SAR 80, followed by Petrochem that sagged 5.41% to SAR 16.95, then Alinma Tokio Marine that ended 5.14% lower at SAR 24.
On the positive side, Metlife AIG was the biggest gainer with a jump of 7.75% to SAR 58, followed by Medgulf that rose 5.84% to SAR 27.2, then Advanced that pulled ahead 4.75% to SAR 13.9.
Property developer Dar Al Arkan was the volume leader with more than 53.6 million shares, while Alinma Tokio Marine recorded the biggest number of transactions with 7,165.
