The Tadawul All-Share Index (TASI) closed just 0.01 percent down at 6,418 points, while the petrochemical index dropped 0.4 percent and the banking index gained 0.1 percent.

The index of the largest Arab bourse has lost 3.1 percent in 2011.

The value of traded shares reached SR5.65 billion on Saturday. 

Oil prices ended 2011 up 13 percent but Brent February crude fell 63 cents to $107.38 a barrel on Friday, having swung from $106.62 to $108.25 in light holiday trade, weighed down by ongoing concerns about Europe's debt crisis and slowing Chinese factories.

Heavyweight Saudi Basic Industries Corp. (SABIC) fell 0.8 percent, while SAMBA Financial Group climbed 0.4 percent.