The Saudi stocks took another dip at Tadawul on its first trading day of the week. Bears were able to push the prices down as the market logged an intra-day decrease of 0.67 percent.
The Tadawul All-Share Index (TASI) gained nearly 20 points earlier yesterday, but wavering in the south for most of the session subsequently closed red at 7013.91 points, down 47.52 points over the previous close.
Overall performance of sectoral indices remained negative as all closed in the red, except Real Estate, Insurance and Agriculture, which gained less than 15 points aggregately.
Remaining 12 sectors lost an aggregate of 430.69 points for the day.
Banks & Financial Services sector recorded the biggest losses, down by 185.91 points or 1.17 percent to close the day at 15,749.06. Other significant decliners were Media and Industrial Investment, down more than 1.0 percent.
Most of heavy weights closed in red; where SABB tumbled 2.86 percent, SAMBA 2.1 percent and Etihad Etisalat Co. (Mobily) 1.13 percent.
Only Saudi Telecom among large cap companies bucked the prevailing downward trend and achieved 0.24 percent daily growth.
Share trading activity remained low as investors lacked buying interest, about 285 million shares worth SR5.5 billion exchanged hands on the Saudi Stock Market.
The 50-day average for trading volume is closer to 547.9 million shares.
Market breadth was negative as less than one-third Saudi companies were able to manage a gain for the day.
Insurance companies were the significant winners among all Saudi stocks, with Alalamiya Cooperative Insurance and Saudi Enaya Cooperative Insurance, rising by 4.9 percent and 2.9 percent respectively.