JEDDAH: Saudi Arabia's benchmark stock index slumped to a fresh 10-week low yesterday as investors fretted that a gloomier outlook for the global economy would lead to lower oil receipts for the world's top crude exporter.
"This will obviously put some pressure on (Saudi Arabia's) petrochemical sector," said Farouk Miah, head of research at NCB Capital.
The Tadawul All-Share Index fell 0.3 percent, its fourth decline in five sessions to take its losses since Sept. 15's four-month high to 5.2 percent. The petrochemicals' benchmark eased 0.08 percent, down 5.5 percent for 2012.
Banque Saudi Fransi dropped 1.6 percent and Yanbu National Petrochemical Co. (Yansab) dipped 0.4 percent.
TASI falls to 10-week low
