By Mohammed Abu Meleeh
Riyadh-Mubasher: Saudi Arabia's stock market plunged 2.45% or 175.29 points to close below the 7,000 level at 6,991 points, hurt by low oil prices.
Metlife Aig Anb and Bahri were the only two stocks which survived, rising 9.71% and 0.96%, respectively.
Oil prices fell to the lowest levels in six years on Monday, pressured by latest OPEC decision to maintain production levels. However, prices rose slightly on Tuesday after trade data from China showed a less-than-expected decline in imports.
Brent crude was last trading up 33 cents at $41.06 per barrel on London’s ICE.
The stock market has lost 3.43% or 248.49 points since the beginning of December. It also shed 16.10% or 1,341.86 pts since the beginning of 2015.
All sectors declined, led by the media and multi-investment which dropped 9.02% and 6.13% in a row. The transport sector tailed the list as one of its companies rose.
Traded volume increased 13.5% to 257 million shares, compared with 226.7 million shares on Monday. Turnover also grew 11.2% from SAR 5.3 billion to SAR 5.9 billion.
Saudi Printing was the major disappointment, tumbling 9.96%, followed by Research and Marketing which dropped 9.9%.
Translated by Abdul Maguid Aboshahla
