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Tadawul down; real estate slumps in last minutes

Tadawul down; real estate slumps in last minutes
Photo Credit: Arabianeye-Reuters

By Mouaz bin Saad

Riyadh-Mubasher: The Saudi Stock Exchange (Tadawul) benchmark index ended Tuesday’s trading 0.83% or 74.80 points lower to close at 8,966 points.

Traded volume amounted to more than 266.8 million shares, exchanged in over 121,700 transactions with turnover exceeding SAR 7 billion.

Ten sectors headed south, led by real estate development, down 4.32%, and followed by petrochemical industries, which sagged 1.07%, and banks and financial services, which lost 0.93%.

Meanwhile, five other sectors headed north, topped by retail, which rose 1.17%, followed by agriculture and food industries, which advanced 1.04%, and then media and publishing, which drifted 0.34% higher.

Fifty-two stocks moved higher, spearheaded by Trade Union (+3.65%), ACE Insurance (+3.35%) and Aldrees (+3.29%). On the negative front, 96 stocks moved lower, led by Jabal Omar (-7.66%), Petrochem (-5.31%) and Petro Rabigh (-5.11%).

Alinma Bank came on top with turnover reaching SAR 770.138 million, while property developer Dar Al Arkan topped the most actives with traded volume reaching 43.555 million shares.

Translated by Sayed Abdel Rahman