Saudi equities fell for the second consecutive day amid escalating US-Iran tensions.

 

The benchmark Tadawul All Share Index (TASI) regained early losses, slipping 0.4%, or 32 points, to 8,162 points by 1 pm (Riyad time) on Monday.

 

The index had declined by 2.4%, or 203 points, on Sunday.

 

Oil giant Saudi Aramco fell 1% to SAR 34.20, while blue chip SABIC declined 0.5% to SAR 91.50.

 

Saudi Cable was the top decliner, sliding 8.4% to SAR 21.76.

 

On the other hand, heavyweight Al Rajhi rose 0.2% to SAR 64.50.

 

MIS surged 6.5% to SAR 47.50, after its board of directors recommended a 25% capital hike through the issuance of bonus shares.

 

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

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