TASI slips 0.7% below 9,800; MEPCO leads industrial gains

The Tadawul All Share Index (TASI) closed 0.7 percent lower on Sunday as it dipped below 9,800 points  (-70 points) following a strong performance  last week.

All sectors ended up in the red with the exception of industrial investments, as shares of Middle East Paper Co. (MEPCO) began trading on the Saudi Stock Exchange. The stock closed at SAR 33, around SAR 3 higher than its initial public offering (IPO) price.

Trades on MEPCO amounted to 1,410, worth a total of SAR 28,500 at a rate of 20 shares per deal.

The listing was the first Tadawul offering within the industrial investment sector this year.

Meanwhile, the total value of shares traded on the exchange for the day reached SAR 10.9 billion.