By: Thabet Shehata

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Tuesday’s session with the highest losses since January.

The main index fall 3.79% or 225.9 points to stand at 5,730.69 points.

There are a number of factors that contributed to the market’s big losses of today, which are represented in the latest government decisions of reducing the ministers’ wages and expectations of not reaching any agreement in Algeria’s meeting, technical analyst, Ryan Al Khrashy, told Mubasher.

The analyst added that the fall of the market below the support level of 5,900 points also contributed to its losses, amongst other factors.

Turnover surged 94% to SAR 4 billion ($1.07 billion) compared to SAR 2.06 billion ($549 million) on Monday.

Traded volume also increased to 262.24 million shares from 115 million shares yesterday.

The hotel sector declined 9.59%, followed by the media and banks sectors which decreased by 7.5% and 3.05%, respectively.

Saudi Printing and Packaging topped the losing stocks dropping 10% to SAR 13.05, Al Rajhi Bank also fell 3.25% to SAR 53, and SABIC shed 0.64% to SAR 81.75.

Translated by: Sara Ghali