TASI falls over 1%; majority of shares slip

Saudi equities continued to decline for the fourth consecutive session on Monday afternoon, amid escalating tensions between the United States and Iran.

By 12.10 pm Riyadh time, the benchmark Tadawul All Share Index (TASI) shed 1.2 percent, or 107 points, to 8,632 points.

The third phase of Tadawul’s inclusion in FTSE Russell Emerging Market Index began today, based on closing prices of June 20, 2019, with an inclusion factor of 25 percent.

Nearly SAR 2.2 billion worth of shares were traded, with advance-decline ratio standing at 24:145.

Most of the banking stocks were in red, with National Commercial Bank, SABB, Samba and Albilad were down 2 percent.

Petchem major SABIC was down 1.7 percent to SAR 114.80, while Petro Rabigh was down nearly 1 percent to SAR 20.02.

Mining major Maaden slipped 1.9 percent to SAR 48.70.

On the other hand, Maharah was the top gainer, rising 5.6 percent to SAR 87.90.

Write to Parag Deulgaonkar at parag.d@argaamplus.com