Riyadh-Mubasher: Tadawul All-Share Index (TASI) declined 0.7% or 39 points in Monday’s volatile trading.
The bourse was stuck between the hammer of petrochemical sector and the anvil of banking sector. The petrochemical sector weighed on the market after SABIC dived 6.6% to SAR 60.5.
SABIC on Sunday posted a 29% decline in Q4-15 net profits to SAR 3 billion, down from SAR 4.3 billion in the prior-year period.
At 12:30pm Mecca time, turnover reached SAR 2.7 billion, generated from the exchange of 172 million shares in 67,700 transactions.
Losers eclipsed gainers 112 to 50.
The index shut Sunday at its lowest level in five years, after trimming early losses by more than one third.
The benchmark lost 5.44%, or 317.7 points, to close at 5,520.4 points, which is the lowest close since 6 March 2011.
Translated by Abdul Maguid Aboshahla
