By Mohammed Abu Meleeh

Riyadh-Mubasher: The Saudi stock market dropped as much as 1.69% or 158.59 points to close at the 9,208.7 level – its lowest since 14 April when it hit 9,164 points.

The bourse was pressured by the petrochemical industry sector which dived 3.24%, as SABIC plunged 3.97% or SAR 4.06 to close below SAR 100 for the first time since 23 April.

The transport sector fell 2.66%, disregarding the strong gains of the newly-listed Ground Services. The stock led the way in gains, surging 10% to SAR 60.5. Tihama had the second-best showing, jumping 9.89% to SAR 119.5.

On the negative side, Tasnee was the major disappointment, tumbling 7.89%, followed by Takaful Al-Rajhi which was down 6.04%.

Translated by Abdul Maguid Aboshahla