JEDDAH: Saudi stocks fell on Monday as all sectors closed with losses. Its TASI index closed 0.33 percent up on Sunday at 6,309.05 points, but fell 0.99 percent to 6,246.50 points by its close on Monday. Sector losses of the Saudi Stock Exchange ranged from a drop of 0.24 percent in the hotel and tourism sector to a loss of 1.66 percent in the insurance sector, followed by a loss of 1.43 percent for the banks and financial services.
“With liquidity coming in at even lower than yesterday’s level, closing at SR2.4 billion, it is a slightly positive sign. However the market trend will remain unclear until more news is available concerning investments in the region,” said Jeddah-based Financial Transaction House (FTH) in its daily market report.
The Kuwaiti stock market was likewise down, closing 0.79-percent lower, at 6,678.9 points, while Bahrain’s small exchange dropped slightly, closing at minus 0.07 percent.
Bucking the trend, Qatar and Oman’s stock markets were up on Monday. Qatar’s exchange rose 1.06 percent, closing at 7,132.26 points, while Oman’s market went up 0.32 percent, to close at 6,302.170 points.