By Majid Al Shabib
Riyadh – Mubasher: Saudi stock market sagged on Sunday, as the main index lost 1.6% due to the continued decline in oil prices late last week.
The index shed 114 point to close at 6.931 points, dragged lower by banks and petrochemical industries.
Meanwhile, speculative stocks rebounded today, as Shams, Saudi Exports and Thimar soared by their maximum limits.
This may represent a fresh rebound for speculative stocks that lost their glamour since the peak in September 2014, especially as the market value of these stocks had sizeable discount.
Sunday’s turnover amounted to SAR 5 billion, divided into 254 million shares exchanged in 112,000 transactions.
Liquidity was mainly focused on banks and petrochemical industries sectors.
Sectors were mostly down, led by media and publishing (-5.3%), followed by banks (-2.8%) and petrochemical industries (-2.1%). Meanwhile, energy and retail rose by 2.7% and 0.39% respectively.
