Mubasher TV
Contact Us Advertising   العربية

Saudi bourse loses SAR 124bn in last 6 weeks

Saudi bourse loses SAR 124bn in last 6 weeks
.

By Mohammed Abu Meleeh

Riyadh-Mubasher: The Saudi stock market dropped as much as 2.47% or 230.95 points to close at 9,136.34 points, its lowest in 12 weeks.

The bourse extended its six-week losing streak, during which it dropped 6.47% or 631.75 points.

The market capitalisation dropped SAR 124.3 billion ($33.14 billion) in the last six weeks. It reached SAR 2.03 trillion ($540.8 billion) last week, compared with SAR 2.15 trillion ($573.95 billion) a week earlier.

However, the market capitalisation has increased by 11.87% or SAR 215.15 billion ($57.37 billion) since the beginning of 2015, and the benchmark climbed 9.64% or 803 points.

The sectors declined, except for the telecom which was up 1.55%. The telecom and multi-investment led decliners, dropping 8.32% and 5.46%, respectively.

As for equities, losers eclipsed gainers 137 to 26. Ground Services was the best performer, rocketing 31.76%, while Tihama was the worst performer, plunging 13.29%.

Translated by Abdul Maguid Aboshahla