The benchmark Tadawul All-Share Index (TASI) dropped 62.87 points or 0.57 percent to 11,063.14 points on Thursday. Wavering along the break-even line it plunged to a maximum 75 points just before the closing bell.

All market cap indices finished to the downside. Eleven out of Tadawul’s 15 sectors witnessed a negative change, paring an aggregate of 592 points. Industrial Investment suffered worst of all sectors, trimming over hundred points or 1.1 percent to 9,214.75.

Petrochemical Industries and Transport sectors were other major decliners, going down by 0.86 percent and 0.8 percent respectively. However, Media and Publishing sector rose half percent to 2,756.89.

Most of heavyweights turned red, with Riyad Bank dipping by 1.51 percent and market leader SABIC (Saudi Basic Industries Corp.) 1.13 percent. Only Saudi Electricity Co. showed a positive change amongst big players, gaining 0.44 percent for the day.

The total number of falling stocks exceeded to the total number of rising stocks by a huge margin of 101 to 41. Bupa Arabia Insurance hitting an all-time high soared up 5.57 percent for the day, closing at SR150.67. On the other side of the spectrum, Arabia Insurance Cooperative suffered worst of all equities, showing a reduction of 4.27 percent.

Tadawul total turnover set sold approximately 376 million shares worth SR11.5 billion, a nominal decrease as compared to previous level. But total turnover remained greater than the 50-day average level, ranging from 30-to-47 percent.

Trading activity was led by Saudi Mobile Telecommunications Co. (Zain), which represented a relative market share of 19 percent in terms of volume and 7.1 percent in terms of liquidity. The company volume went 3.2 times high over its 50-day average, liquidating 71.7 million shares.