By: Aseel Bin Taleb
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday’s session in red for the eighth session in a row.
The main index decreased 1.49% or 95.99 points to stand at 6,335.59 points.
Zain topped losers by declining 9.84%, after achieving SAR 329 million net losses in the second quarter of 2016.
The Saudi market witnessed a technical drop due to breaking a strong support zone of 6,450 points, expected to reach 6,200 points in the coming period, technical analyst Mohamed Al Maimouny commented.
He added that the market was affected by oil prices that stood at $44.
Turnover reached SAR 3.9 billion, up from SAR 3.44 billion on Wednesday.
Traded volume grew to 208.3 million shares, compared to 172.25 million shares yesterday.
The energy and utilities sector edged up 0.14%, while all sectors retreated led by the media and publishing, multi-investment and petrochemical industries sectors losing 2.95%, 2.66% and 2.61%, respectively.
On the stock level, 22 shares levelled up, 146 dropped and 2 remained unchanged.
Al Sagr Cooperative Insurance topped the best performers rising 9.76%, followed by Emaar and Arriyadh Development Co., which gained 3.25% and 2.2%, respectively.
Zain topped the worst performers losing 9.84%, followed by Fitaihi Holding Group and Saudi Steel Pipe, which decreased 7.14% and 6.18%, respectively.
Translated by: Sara Ghali
