Tadawul: SABIC, Maaden and Bahri gain strength

27/10/2015 05:31 AST

The Tadawul All-Share Index fell 6.7 percent over the four previous trading but toward the end of the session, petrochemical producer Saudi Basic Industries (SABIC) rose 1.8 percent, mining group Maaden 3.8 percent and oil shipper Bahri 3.3 percent.

This helped the index close 0.6 percent higher. Turnover remained modest, however, and some stocks continued sliding on expectations of a tighter state budget.

City Cement fell 0.3 percent to a 31-month low, extending a decline that has taken it down about 10 percent in the last two weeks.

UAE markets dropped after the Cabinet approved a slightly smaller federal budget for 2016, in a sign that the country is crimping expenditure due to low oil prices.


Arab News

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