The Saudi stock market was in the red yesterday, reversing after a 3-day surge and dropping 0.35 percent for the day.

Saudi Arabia’s benchmark stock index after spending entire session in the downward territory ended lower to 7,057.44 points, down 24.4 points, from its previous day close at 7,081.88 points.

It went to a maximum of 41 points down from the level of opening bell yesterday.

The market cap indices all finished to the downside.

Four out of Tadawul’s 15 sectors witnessed a positive change, accumulating less than 14 points for the day. Remaining 11 sectors closed in the downward territory, paring an aggregate of 314 points.

Media and Publishing came out as the worst performing sector, declining 1.74 percent to close at 2,873.02.

The Agriculture sector followed it, falling 0.73 percent for the day.

Most of heavy weights closed lower from previous day’s levels, with Samba Financial Group, Saudi Telecom and SABB going down nearly one and half percent each.

Saudi Arabia Fertilizers Co. (SAFCO), however, continued its positive movement, advancing 0.78 percent further.

The total number of falling stocks exceeded to the total number of rising stocks by a margin of 99 to 43 and the prices of 15 companies remained unchanged.

Saudi Indian Company for Co-operative Insurance (Wafa Insurance) continued its upward march for the ninth consecutive session, marking another gain of SR11 or 9.9 percent. An appreciation of nearly 72 percent in the value of Wafa has been recorded in nine consecutive days.

Allianz Saudi Fransi was another significant gainer, which advanced 9.61 percent yesterday.

Eastern Province Cement, on the contrary, delivered a largely negative performance, slipping 7.43 percent for the day.

Al-Sagr Company for Cooperative Insurance — the best performing stock of previous day — also turned red, decreasing by 6.73 percent and closing at SR33.3.