TASI slips; SABIC up on Q1 expectations

Saudi Arabian shares declined over the session on Monday as interest remained selective on lack of clarity on direction. A softening in oil prices also weighed on sentiment.

The Tadawul All Share Index (TASI) closed 0. 1 percent lower at 7,004. Trading volume was SAR 3.7 billion, unchanged from in the previous session.

At a sector level, energy, materials and capital goods retreated.

Yanbu Cement fell more than 5 percent to SAR 33.10. The stock goes ex-dividend tomorrow.

Saudi Kayan fell 4 percent to SAR 9.35 on profit booking following its near 10 percent rise in the previous session. Elsewhere, Zain KSA, Kingdom and Yansab all retreated. 

Among lenders, Alawwal Bank fell 1 percent to SAR 11.25 while Samba, which goes ex-dividend tomorrow, fell nearly 2 percent to SAR 21.20.

Meanwhile, SABIC extended gains; up more than 1 percent to SAR 99.75. The petrochemicals giant is expected to post a 53 percent jump in Q1 profit, according to consensus estimates. 

Write to Brinda Darasha at brinda.d@argaamplus.com