The Saudi stock market continued its downward fall and recorded huge losses (-274 points) on Wednesday.

Saudi Arabia’s benchmark stock index (TASI) tumbling 2.69 percent and trimming back the 10,000-mark finished at 9,903 points.

Large cap index performed worst among market cap indices, falling 2.84 percent on Wednesday.

Top ten large caps finished to the downside, with Samba Financial Group dipping by 3.74 percent, market leader SABIC (Saudi Basic Industries Corp.) 3.54 percent and Saudi telecom 3.39 percent.

All sector indices witnessed a negative change, trimming an aggregate of 3,789 points.

Transport sector had fallen prey to profit-taking most, slipping nearly 415 points or 4.8 percent. Tourism and Petrochemical Industries were other declining sectors, going down by 3.6 percent and 3.25 percent respectively.

The total number of falling stocks exceeded to the total number of rising stocks by a huge margin of 145 to 14. Saudi Public Transport Co. (SAPTCO) suffered worst of all Saudi stocks, shedding 8.83 percent to SR33.68. But the company volume was 192.8 percent greater as compared to previous day.

Bank AlJazira fell 7.17 percent to SR28.62. The bank volume went 4.1 times high over its 50-day average, liquidating 8.7 million shares.

Share price of Yanbu National Petrochemicals Co. hit a new 52- week low of SR59.75, reducing over four percent for the day.

However, Wafa Insurance showed the best performance, surging by 2.38 percent to close at SR37.3.

Alinma Bank led the trading activity with trades of over 35 million shares, which were roughly 16 percent of Tadawul's total volume.

Tadawul volume went slightly up and traded 231 million shares as compared to previous day’s 218.8 million shares. The value of these shares totaled SR7.3 billion.

But the overall turnover still remained below the 50-day average level, ranging from 17-to-23 percent.