By: Thabet Shehata

Riyadh – Mubasher: The main index of Saudi Stock Exchange (Tadawul) closed Sunday with a fall of 0.99% or 66.31 points to the level of 6,628.95 points, extending its losses for the third session in a row.

The market saw today the listing of Al Yamamah Steel Industries, which closed 10% higher to SAR 39.60, as 100,000 shares were exchanged at SAR 3.96 million.

Markets analyst, Salem Al-Shwaiman, suggested that the bourse didn’t benefit from improved oil prices.

The banks was the worst performing sector after dropping 1.34% as all stocks closed in red except Riyad Bank, while Al-Rajhi Bank and National Commercial Bank fell 1.74% and 0.21% respectively.

The petrochemicals sector declined 0.87%, pressured by the decrease in SABIC and SAFCO by 1.06% and 0.03% respectively.

The telecom sector also decreased 0.5% as Mobily fell 1.47% and Zain shrank 2.31%, while STC closed 0.13% higher.

On the other hand, retail and media and publishing sectors grew 1.65% and 0.1% respectively.

Turnover retreated to SAR 4.08 billion from SAR 5.1 billion on Thursday, the lowest level since 10 April.

Trading volume also decreased to 193.62 million shares from 231.87 million shares exchanged on Thursday.

Alinma Bank was the most traded stock 49.66 million shares exchanged at SAR 676.89 million, falling 1.67%.

Translated by: Elwy el-Manzalawy