The Tadawul All Share Index, TASI, was down 1.4 percent to 11,300 points, hit by a slide in bank, petrochemical, and energy stocks in early trading today.
Al-Rajhi Bank shares fell by about 1 percent, which is the seventh session in which the stock declined, while Aramco's shares decreased by 0.7 percent.
Alinma Bank shares went down by about 2.5 percent.
The market decline coincided with the fall in oil prices, which lost the $80 level for Brent crude.
Here’s a wrap of market movements as of 10:30 a.m. Riyadh time:
The price range for the initial public offering (IPO) of bourse operator Saudi Tadawul Group Holding Co. (Saudi Tadawul Group) was set between SR95 and SR105 per share, which could raise up to SR3.78 billion ($1.01 billion).
Bank AlJazira began the offer of SR denominated Tier 2 sukuk worth SR2 billion, through a private placement in Saudi Arabia.
The Saudi Exchange (Tadawul) announced that Development Works Food Co. shares will be listed on the main market on 23 November.
Middle East Paper Co.’s (MEPCO) board of directors approved to start liquidation procedures of its wholly-owned subsidiary, Special Achievements Co. LLC, with a capital of SR100,000.
Tihama Advertising and Public Relations Co.’s subsidiary, Tihama Education, signed a contract with the General Authority of Civil Aviation (GACA) to lease the third of the six retail units at King Abdulaziz International Airport, Jeddah.
Alkhaleej Training and Education Co.’s rights issue was 89.25 percent covered, as subscribers injected SR178.5 million by buying 17.85 million new shares.
Naseej International Trading Co.’s board of directors approved the resignation of chief executive officer Yasir Osama Al-Sebaei.
Taiba Investments Co. signed a hotel management agreement with London-listed InterContinental Hotels Group (IHG) to operate the four-star Crowne Plaza Taiba Hotel & Suites in Riyadh, which is owned by Al Aqeeq Real Estate Development Co., a fully-owned subsidiary of Taiba.