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Saudi Arabia stocks were lower after the close on Tuesday, as losses in the Real Estate Development, Energy & Utilities and Industrial Investment sectors led shares lower.
At the close, the stock benchmark Tadawul All Share Index fell 0.15%. The best performers of the session on the Tadawul All Share were Red Sea Housing Services Company, which rose 6.34% or 1.18 points to trade at 19.80 at the close. Meanwhile, Arabian Shield Coop Insurance Co added 5.32% or 2.15 points to end at 42.55 and Kingdom Holding Company was up 5.06% or 0.52 points to 10.80 in late trade.
The worst performers of the session were Nama Chemicals Co., which fell 8.68% or 1.90 points to trade at 20.00 at the close. Banque Saudi Fransi declined 4.24% or 1.40 points to end at 31.60 and Alinma Tokio Marine Co was down 2.34% or 0.60 points to 25.00.
Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 106 to 50 and 20 ended unchanged.
Crude oil for October delivery was down 0.19% or 0.09 to $47.98 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.46% or 0.25 to hit $54.09 a barrel, while the December Gold Futures contract fell 0.40% or 5.35 to trade at $1330.35 a troy ounce.
Meanwhile, oil prices recouped some losses on Tuesday, helped by OPEC saying its output fell in August, an indication that the production-cutting pact was helping to reduce a supply gut.
International benchmark Brent crude edged 30 cents higher to $54.14 per barrel by 1235 GMT. Earlier in the day it traded as low as $53.42.
US West Texas Intermediate was flat from the previous close at $48.07 a barrel. It had traded down to $47.73.
OPEC Secretary-General Mohammed Barkindo said on Monday a deal to cut supply would help the market rebalance and strong demand could further reduce oil inventories.
The topic of sukuk standards is an important but sometimes divisive one in Islamic capital markets, and is a constant source of debate between the industry's many key stakeholders.
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Times of Oman
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Oman Daily Observer