Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) benchmark Tadawul All Share Index (TASI) closed the week in the red territory after losing 1,110 points or 15%, its steepest fall since March 2011.

TASI fell to 6,357 points in the week ended on 12 March, compared to 7,467.5 points in the previous week.

The applications and technical services sector headed the decliners after sliding by 23%, while the consumer services and capital goods sectors dropped by 21.2% and 20.4%, respectively.

As for the heavyweight sectors, the banks, basic materials, and energy sectors went down by 17.3%, 16.5%, and 10.7%, in that order.

The market cap value shrank by 12.6% over the course of the week to SAR 7.266 trillion ($1.937 trillion), compared to SAR 8.318 trillion ($2.218 trillion) the week before.

Meanwhile, the market’s turnover plummeted by 35.1% to SAR 21.84 billion, while the traded volume sank by 40.3% to 873.7 million shares during the week ended on 12 March from 1.46 billion a week earlier.