Shares of banks witnessed heavy selling pressure; Riyad Bank alone reflected a relative market share of 22.3 percent on value basis and 21.2 percent on volume basis with trades of over 98.6 million worth SR2.36 billion.

Hotel & Tourism sector added 204.08 points, or 3.01 percent, to end at 6,987.53. It was followed by Media and Publishing sector, moved up 1.4 percent or 32.67 points to end at 2,374.19. Real Estate Development sector became the biggest loser of the day, down by 0.72 percent or 21.94 points to close at 3,039.46.

The market breadth was negative with 86 stocks witnessing declines against 51 stocks witnessing advances. Insurance stocks secured their position as major gainers with Allianz Saudi Fransi Cooperative Insurance Co. and Al-Alamiya for Cooperative Insurance Company, rising by 9.96 percent and 6.07 percent respectively. On the worst side, National Agriculture Marketing Co. became the biggest loser of the day, down 3.86 percent.

Al-Ahsa Development added a gain of 3.8 percent, staying in green territory for the ninth consecutive day on Tuesday. It has an accumulated gain of 37.4 percent during February, 2012. On the other hand, Sharqiah Development Co. declined for the ninth consecutive day to close at SR58.50. It has lost 19.6 percent market value of the share during February.

The share price of Qassim Cement increased by 3.62 percent to close at SR78.75, highest since July 2008. The company has announced a consolidated net profit of SR552.9 million for the fiscal year 2011, an increase of 10.46 percent over previous year. Board of directors for Qassim cement recommended a cash dividend of SR3.50 per share for second half of year 2011, bringing the total dividends to SR517.5 million (SR5.75 per share) for the year 2011.