Riyadh – Mubasher: Saudi Stock Exchange, or Tadawul, was down on Tuesday, snapping a bullish trend seen in the last four sessions.
The market was driven lower by banks and petrochemical industries sectors. However, the rise in real estate and telecom sectors trimmed the market losses.
The main index inched lower by 0.07% or 4.43 points to close at 6,481.68 points.
The energy sector was the biggest drag, falling 0.89%, after Saudi Electricity and GASCO retreated by 0.67% and 0.41% in a row.
Similarly, the banks sector lost 0.51%, weighed by NCB, Bank Al-Jazira and Banque Saudi Fransi that were off 1.17%, 1.9% and 1.09%, respectively. Al Rajhi Bank and Samba were in green.
The petrochemical industries sector lost 0.47% due to SIIG that was the biggest loser with a drop of 4.55%. Meanwhile, giant petrochemical firm SABIC rose by 0.05%.
On the positive front, the telecom sector rose by 1.03% backed by Mobily and STC that gained 3.38% and 0.36% in a row, while Zain and Etihad Atheeb were down.
The real estate development sector strengthened by 1.73% directly propelled by Jabal Omar stock that was the sole advancer in the sector with a rise of 3.92%. Dar Al Arkan remained unchanged.
Tuesday’s traded value declined slightly to SAR 6.638 billion ($1.77 billion), from SAR 6.639 billion ($1.76 billion) on Monday. Meanwhile, traded volume increased to 364 million shares from 344.3 million shares.
SABIC was the top active with a traded value reaching SAR 824.4 million, or 12.4% of the market’s overall liquidity.
Translated by Sayed Abdel Rahman
