* Ahmed Al-Rasheed from Riyadh
Saudi stocks fell at their worst in nearly two weeks, losing 1.3 percent by about 103 points to close at 7893 points. The market value fell by 26 billion riyals to reach 1.87 trillion riyals.
The decline came under pressure from SABIC and the basic materials sector.
The market continues to hold most of the gains since the beginning of the wave in mid-September and trading above the 21-day average, which represents support for the general index at 7880 points, and maintaining 7,800 points levels will keep chances of return to profitability.
However, the continuation of the bullish trend is dependent on the crossing of 8040 points, which constitute an important resistance barrier that the market failed to overcome last week.
Overall market performance
The general index opened at 7997 points, trading between high and low.
The highest point was at 8005 points with 0.1 per cent, while the lowest point was at 7869 points, losing 1.6 per cent.
At the end of the session, the general index closed at 7,893 points, losing 103 points, or 1.3 percent.
Liquidity rose 13 percent by about 33.9 million riyals to reach 2.9 billion riyals, or 31,000 riyals.
While traded shares increased 25% by about 26 million shares to reach 129 million traded shares, and the turnover rate was 0.24%.
Deals rose 8 per cent by about 7.1 thousand to reach 94,000 deals.
Sector performance
All sectors retreated and were led by "Food production" by 2.7 per cent, followed by "Telecommunications" by 2.4 per cent and "Insurance" by 2.3 per cent.
The highest turnovers were "basic materials" by 43 per cent with a value of about 1.2 billion riyals, followed by "banks" by 22 per cent at a value of 648 million riyals, and "Banks" by 6 per cent with a value of 183 million riyals.
Stock performance
The rise was led by "SPM" by 5 per cent to close at SAR12.26, followed by "Medgulf" by 4 per cent to close at 14.66 riyals, and "Astra Industrial" by 1.8% and closing at SAR 17.84.
On the other hand, the decline was led by "Alujain" by 8.4% to close at SAR 26.65, followed by "Saudi Industrial Investment Group" by 5 per cent to close at 25.50 riyals, and "Allianz" by 4.5 per cent to close at SAR 24.
"SABIC" had the highest turnover of SR 402 million by14 per cent, followed by "Saudi Kayan" by 13% with a value of 397 million riyals, and "Alinma" by 13% with a value of SR 389 million.
* Economic Reports Unit
