Saudi Arabia’s stock market was in the red on Tuesday, reversing after a 3-day surge.

The benchmark Tadawul All-Share Index (TASI) closed at 9,768.05, dropping 25 points or 0.26 percent for the entire day. It plunged to a maximum 73.4 points just after the Tuesday’s opening bell.

The market cap indices all finished to the downside. Most of the sector indices ended negatively, trimming an aggregate of 923 points.

Multi-Investment posted the largest losses among sectoral indices, shedding 4.96 percent to close the day at 4,237.99. Telecommunication & Information Technology sector also continued its downward fall, going down further by three percent. Etihad Etisalat Co. (Mobily) again slipped 4.83 percent to SR55.85.

On the positive side, Banks & Financial Services sector rose 1.76 percent or 378.6 points to close at 21,875.70. Alinma Bank topped the gainer chart at Tadawul, surging 4.72 percent to SR24.37. Banque Saudi Fransi and Saudi Hollandi Bank were other key gainers, turning up by 3.62 percent and 3.38 percent respectively.

Trading activity was also led by Alinma, which represented 26.6 percent relative market share in terms of volume and twenty percent in terms of liquidity. The bank volume was 2.4 times high over its 50-day average, liquidating more than seventy million shares.

Market turnover was significantly high as compared to previous day but still remained slightly below the 50-day average level. Roughly, 265 million shares worth SR8.5 billion changed hands on the Saudi stock market.

The total number of falling stocks exceeded to the total number of rising stocks by a huge margin of 126 to 29. Amana Cooperative Insurance suffered worst of all Saudi companies, depreciating by SR2.16 or 9.81 percent.

Furthermore, Kingdom holding played worst rest of its heavyweight peers, going down by 8.96 percent to close the day at SR16.88. The market leader SABIC (Saudi Basic Industries Corp.) fell 1.27 percent to SR104.27.