The Tadawul All-Share Index (TASI) ended 1.2 percent down at 5,927.5 points. Shares in export-oriented Saudi Basic Industries Corp. (SABIC) lose 2.9 percent to SR83.3 and Banque Saudi Fransi, affiliated to French Calyon, shed 4.1 percent.

Trade was led by state-controlled power utility Saudi Electricity whose stock closes nearly limit up — or 9.8 percent higher — after it announced an expected rise in revenue on higher electricity tariffs for non-household users as of July.

Otherwise, sector losses were widespread, with losses ranging from 0.03 percent in the Real Estate Development sector to a 3.41 percent in the Insurance sector. Overall market breadth was negative, with 22 advancers and 102 decliners recording an AD ratio of 0.22, the Financial Transaction House (FTH) said in its daily market commentary.

The Saudi bourse remains closed on Thursdays and Fridays.

On Friday, oil prices fell 4 percent sliding below $72 a barrel as disappointing US employment data and fresh fears about Europe's bank woes spreading made investors risk averse and worried about economic recovery. Saudi shares also track global markets performance. Both US and European stock markets fell sharply on Friday.

— With input from agencies