Saudi stocks closed lower on Saturday, dragged down by losses in all sectors after oil prices dip. The all-share lost 4.2 per cent to 6,681 points and the petrochemical sector dropped 4.7 per cent to 5,909 points.
Heavyweight Saudi Basic Industries Corporation (Sabic) 3.7 per cent. The banking index dropped 3.2 per cent to 15,176 points.
Earlier in the day, the shares opened lower with losses in all sectors, after oil prices declined on Friday. Brent crude prices fell for the fourth straight day on Friday, dropping under $100 a barrel to a 16-month low.
The all-share dropped 4 per cent in early trading to 6,707 points, while the petrochemical sector dropped 4.7 per cent to hit 5,908 points