Saudi down on banking, petchem stocks

Riyadh, November 17, 2012

Saudi shares close lower on Saturday, dragged down by losses in the petrochemical and banking stocks. The all-share dropped 0.4 per cent to close at 6,793 points.

Petrochemical giant Saudi Basic Industries (Sabic) dropped 0.6 per cent. The petrochemical index shed 0.6 per cent to close at 5,752 points, while the banking index fell 0.5 per cent to end at 15,066 points. 

Heavyweight Al Rajhi Bank closed at 0.7 per cent.

Earlier in the day, the shares started lower weighed by petrochemical and banking stocks. The all-share had dropped 0.6 per cent to close at 6,779.8 points and the petrochemical index dropped 0.6 per cent to hit 5,746 points.-Reuters
 

Tags: banking | sabic | Saudi | petrochemical | stocks |