RIYADH: Saudi stocks fell on Tuesday, despite an above estimated 9.9 percent growth in gross domestic product in the first quarter, according to official data.
The main index, TASI, was down 1.2 percent to close at 12,662 and the parallel market, Nomu, dropped nearly 1 percent to 22,329.
TASI was weighed down by a 1.9 percent drop in its largest player in the banking sector, Al Rajhi Bank, as well as a 2.4 percent loss in Riyad Bank.
Oil giant Aramco also contributed to the fall with a decline of 1.22 percent, amid trading of almost 3.4 million shares.
Al Sagr Insurance added 5.3 percent to lead the gainers, while Saudi insurer Bupa Arabia recorded the biggest drop of 3 percent.
Among the top movers in today’s session, chemical major SABIC was down 1.5 percent, and Saudi Telecom Co., or stc, edged 0.2 percent lower.
Shares of Saudi Real Estate Co., known as AlAKARIA, lost 1.9 percent after the developer announced that the first two phases of Al Akaria Park had been fully reserved.
In energy trading, Brent crude reached $119.19 a barrel and US West Texas Intermediate traded at $118.2 a barrel as of 3:32 p.m. Saudi time.