Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Wednesday in the red, its fifth decline in a row, weighed by 11 sectors, particularly petrochemicals, banks and telecoms.
The general index shed 0.78% or 51.65 points and closed at 6,586.5 points.
The index’s total losses in five sessions reached 233.8 points or 3.4%, while total decline since the start of 2016 reached 325 points or 4.71%.
Tadawul’s losses were accompanied by retreating turnover to SAR 5.78 billion ($1.54 billion) compared to SAR 6.4 billion ($1.7 billion) on Tuesday, while traded volume was down to 314.37 million from 383.6 million.
SABIC’s share was the most active in terms of turnover with SAR 887.96 million after 10.78 million shares were traded. The stock slipped 0.09% to SAR 82.
The investment sector led losers, sliding 2.2% after all of its stocks ended in the red, with the exception of Al Ahsa Development, which added 0.44% to SAR 13.60. Kingdom Holding fell 0.65% to SAR 12.25.
Meanwhile, the petrochemicals sector retreated 0.91%, pressured by SABIC and 11 other stocks. Only Sahara Petrochemicals and Alujain ended positively.
The banking sector was down 0.73% after AlRajhi and NCB lost 0.96% and 0.26%, respectively. Eight other stocks retreated by the end of the session, while SAIB rose and Riyad Bank remained stable.
The telecom sector recorded the lowest decline of 0.48% after STC and Mobily fell 1.47% and 0.68%.
Four of Tadawul’s sectors ended in the green, led by hotels and tourism which grew 2.62% on the back of Al Tayyar which gained 4.85% to SAR 43.
