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Saudi bourse hits lowest level in 3M

Saudi bourse hits lowest level in 3M
TASI fell by 2.42% by the end of Sunday

By: Bedour Al Raee

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Sunday’s trading session in red territory, for the third session in a row, hitting the lowest level in three months due to the China-US trade war.  

The benchmark Tadawul All Share Index (TASI) fell by 2.42%, or 203.99 points, ending the session at 8,241.67 points.

TASI’s traded volume reached 99.55 million shares exchanged at a turnover of SAR 2.43 billion through 94,750 transactions.

The Saudi market was the most affected among GCC markets due to the growing fears among investors and the escalating geopolitical tensions in the region, in addition to the ongoing China-US trade war, financial analyst Ibrahim Al Failakawi told Mubasher.

By the end of Sunday, the software and services sector topped the losers falling 3.24%, followed by the banking sector with 2.7%.

Similarly, the materials sector retreated by 2.65%.