By Mohamed Abu Meleeh
Riyadh – Mubasher: Saudi stocks moved back to the red zone, reversing the uptrend that last for the last two sessions.
The main index, or TASI, lost 4.99% or 286.6 points to close below the 5,500 points for the second time since July 2009.
Most sectors were down, except for media and publishing (+0.1%) after SRMG gained 4.6%.
The hotel and tourism sector was the biggest drag, with a fall of 8.87%, while the petrochemical sector lost 6.29% dragged lower by SABIC and Safco that shed 6.91% and 5.4% respectively.
Companies listed under the five main sectors were mostly down, except for Yansab that rose by 0.7% despite posting a profit decline in the fourth quarter of 2015.
Today’s traded value rose by 1.3% to SAR 6.5 billion from SAR 6.4 billion, while traded volume increased to 415.2 million shares from 401 million shares.
167 companies moved lower led by Al Khaleej Training and Mepco (-10%), while seven stocks moved higher topped by Buruj Insurance (-5.05%) then SRMG (-4.65%).
