TASI pares losses at midday, down 0.7%

Saudi Arabia’s benchmark Tadawul All Share Index (TASI) trimmed early morning losses, losing 0.7%, or 60 points, to 8,140 points in the first two hours of trading on Wednesday.

The index was down 1.4% in the first 10 minutes of trading in tandem with other regional and Asian stock markets after Iran fired missiles at 2 US bases in Iraq.

The advance-decline ratio at the time stood at 20:165.

Blue chip SABIC declined 0.3% to SAR 90.60, while banking heavyweight Al Rajhi shed 0.5% to SAR 64.60.

Oil giant Saudi Aramco was down 0.7% to SAR 34.10.

Shams was the top gainer, rising 5.2% to SAR 25.95.

Elsewhere, Dubai's main share index fell 1.2%, while Abu Dhabi index lost 0.7% by 12 pm (Riyadh time).

To contact the writer, email Parag Deulgaonkar at parag.d@argaam.com