By Mohammed Abu Meleeh

Riyadh-Mubasher: The Saudi bourse’s benchmark edged down 0.32% or 30.55 points to close Monday at the 9,589.42 level amid profit-taking. Accordingly, the index trimmed most of the losses incurred during the session, which reached 60.2 points.

The market got a boost from the telecom sector, which climbed 2.21% as Saudi Telecom was up 3.17% on strong Q1 financials.

Seven sectors headed north, topped by the agriculture sector which rose 2.38%, as Savola stock advanced 3.48% after posting robust Q1 earnings.

Meanwhile, eight sectors headed south, led by the petrochemical industry sector, which dropped 2.03%, while SABIC closed on a flat note.

Turnover declined from SAR 14.8 billion to SAR 11.16 billion, and trading volume fell from 551.1 million shares to 411 million shares.

Wrapping up stocks, losers eclipsed gainers 103 to 49. Insurance firm ACIG led the way in gains, rocketing 7.64%, while Solidary was the biggest loser, diving 9.93%.

Solidarity’s accumulated losses reached 61% of capital, and thus the stock was halted for two hours from the session’s start.    

Translated by Abdul Maguid Aboshahla